Bonus/Layoffs Watch '13: UBS
Both are expected to go down shortly.
Layoffs are expected to hit IBD in the next week, with bonuses communicated in early March. Looking like 40% of the remaining folks are getting zero or close to it, with the rest getting "market," whatever that means with the crap they are giving out for paper. Payday will be in very late March to hold folks in their seats. The morale is nonexistent. Cannot describe how bad it is and how no work is being done, other than one's resume.
Related: UBS Is Doing Things A Little Differently Around Here; UBS Employees Will Get Their Bonus Numbers When Management Feels Like Giving Them Their Bonus Numbers