No, zero severance & full team layoffs. It's a bloodbath. 

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On 6th floor, currently ppl are being called into GH’s office one by one (COO left already so GH and HR are holding the conversation).

 

Haven’t been to 7th fl today so I don’t know. Some of us aren’t in today as well so I’m guessing they would just get called?

 

Prospect in IB - Gen:

Absolute bloodbath on the 6th floor

What group on the 6th?

 

Holy fuck this is terrible. We're all gonna die, everyone cover your balls!

 

Wouldnt put weight on the comment about RE - two people from M&A moved IN to the group as part of this massacre today

 

Heard entire group is gone. MD is looking to jump ship to Goldman/JPM/BofA. They don't need them at UBS. 

 

Holy fuck, I can't breathe. Only junior person in my group not cut. Joining 1 MD and 1 D of my group at UBS. 

Some groups / tenures not getting severance. 

 

No one in HC and FIG got laid off today. GH of HC is now co head of banking so he might protect his people. FIG, I don’t know too much about but when I go to their side, it is always empty. They had an exodus a few months ago where several MDs just walked out.

 

No one in HC and FIG got laid off today. GH of HC is now co head of banking so he might protect his people. FIG, I don't know too much about but when I go to their side, it is always empty. They had an exodus a few months ago where several MDs just walked out.

FIG everyone works from home but 3 associates at minimum are gone. 

 

Anonymous Monkey:

No one in HC and FIG got laid off today. GH of HC is now co head of banking so he might protect his people. FIG, I don't know too much about but when I go to their side, it is always empty. They had an exodus a few months ago where several MDs just walked out.

FIG everyone works from home but 3 associates at minimum are gone. 

Which side of FIG? The Fintech side or the insurance side?