Layoffs Watch '11: UBS

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The Swiss apparently began implementing their new revenue-generating plan earlier this afternoon.

"FYI: Layoffs started happening today across the sales, research and trading groups as well as the I-bank."

No word on severance or when the rest of the cuts will come.

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Layoffs Watch '12: UBS

Cuts are said to have gone down at the Swiss bank today. "Layoffs at UBS IBD, as if moral wasn't low enough at 299 Park. M&A, FIG, TMT affected."

Layoffs Watch '12: UBS

Cuts are said to be going down circa now. "FYI: UBS is letting people go on the sales and trading desk today. At least three senior guys have been let go so far this morning, with more on the way."