Layoffs Watch '16: UBS Freeing Up Some Space In Its Investment Bank

By axing a bunch of employees.
Author:
Updated:
Original:

Please don't take any of the complimentary jumbo Toblerone bars on the way out. Those are for clients only.

UBS Group AG is trimming some positions at the investment bank as part of a plan to reduce costs across the business in response to a revenue slump, according to people with knowledge of the situation. At least a dozen London-based employees in the securities unit lost their jobs this week, said the people, declining to be identified because the matter remains private. Positions were eliminated in equities, debt capital markets, leveraged finance and real estate, they said. A spokesman for the Zurich-based company declined to comment.

UBS Said to Trim Some Securities Jobs as Ermotti Cuts Costs [Bloomberg]

Related

Layoffs Watch '16: Nomura

The cuts may start this week.

Layoffs Watch '16: Banks Committing Elder Abuse In Fixed Income

If you're over the age of 30...get ready to pack up your belongings.

Layoffs Watch '16: Only YOU Can Help HSBC Cut $5 Billion In Costs

Employees across the pond know what we're talking about.

Layoffs Watch '16: Goldman Sachs

The House of Lloyd is making cuts.

Layoffs Watch '16: This Is Harder On Lloyd Blankfein Than It Is On You

The Goldman Sachs chief will miss each and every one of you.

Layoffs Watch '16: Bank Of America Giving Traders The Ax

The cuts are said to be going down in the U.S. circa now.