Well, 1,900 more IB’s will be polishing off their resumes. UBS is finishing up plans to shave their workforce by that many beginning in November. (Just in time for the holidays!) This is on top of the 4,400 other jobs that were eliminated there over the past year. But honestly, where is there to go anymore? In light of the recent horror show on Wall Street, I don’t think there’s anyone in this industry who isn’t preparing for the worst. I think a career change is looming for many IB’s. Anybody have any suggestions?
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While I undoubtedly believe you, can you post the link to where you read this? I looked in the nytimes and couldn't find anything. I was still waiting to hear back from UBS after interviewing with them for a ft analyst position starting next year.
For some reason think link isn't working within my thread, but it's http://news.hereisthecity.com/news/business_news/8289.cntns
I pulled it from the newswire on this site.
Wait, wait....What exactly is an IB? Isn't that short for "investment bank"?
investment banker
sarcasm
It's hard to discern sarcasm from truth on this board.
I was told by a UBS recruiter that they were filling their FT class solely with SAs from this past summer.
True. What else do you expect in this market environment? I'm sure UBS is not alone on this one.
do you think they will rescind any full time offers with this round of layoffs?
I wouldn't think so because those offers are relatively hot off the press, but who knows what will happen in subsequent swingings of the ax.
what happened to that kid debating lehman vs UBS. talk about a tough decision 2 weeks ago and now this?
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