Did UBS have CS fire their entire S&T division?
Seems the closing of the deal will leave most of all the north american groups empty. Does anyone have any insight?
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Very likely as S&T carries the most of risky assets in CS IB. Think majority of them will be moved to non-core assets.
I believe that exiting part of the business is their strategy, but they have given a few MDs here in NY the call to stay this week. Source is a friend in S&T.
Any idea which divisions?
Any indications on when UBS will start layoffs for CS in US
Layoff is coming soon. Before Miller left, he spoke to my ex GH and asked him to get more ppl out of door to GH’s new shop because otherwise he knows many juniors’ necks are on chopping board
Are you in cm&a or s&t?
Pretty sure there are some groups staying. Source: friend interning at S&T
Which groups???
2nd week of July has been communicated as a round of layoffs
Source? I heard for IB, it's tomorrow. Source is cap markets MD
Damn srs?
this is false. they are having an IB townhall tomorrow morning though
Bump
Bump any news!
v
Have also heard they may be conducting the layoffs / communicating terminations generally tomorrow via the town hall. I don’t work at CS and my info is third-hand so would appreciate someone with insight to update/let us know
At townhall and my entire team is getting let go. This is wild
Extremely sorry to hear... do you mind sharing which team? CS or UBS?
Anyone else hear about layoffs?
I was at the town hall. There were no layoffs, but it was communicated that layoffs would be happening in the future from both CS AND UBS.
Did they give a timeline? Also any other important updates to the firm?
We were told if we’re in the town hall we had been let go. Straight out of sucesssion
What is going on here? Were there multiple town halls? My gut tells me HR wouldn't do a mass layoff in this way
I was making it up
Why would you do that?
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