UBS IB Cancels round of layoffs because too many people are quitting
I heard that UBS apparently cancelled a round of junior layoffs because enough people already left on their own. They reached their target, but it also shows there is a lot of people are quitting
Can confirm. Also it’s the good analysts/associates leaving with the weaker ones staying (as per the usual).
Congrats on leaving UBS!
Take your bonus and gtfo!
UBS = Uve been scammed
That explains all the job postings, it’s not because bussiness is growing
Probably going to be a large restructuring soon
First Boston when?
The “I heard” threads never end 🤣
First fake meal stipend news now this
Meal wasn’t fake, they just did a 180
Congrats on meal stipend!
This is getting reposted by fintwit accounts with absolutely not verification of whether it’s actually true.
Yeah is this actually true?
They should proceed with junior layoffs. More productivity per head!
UBS management actually thinks this is the problem
Instead of getting their lazy retarded MDs to originate
0/100 or 0/50 is still the same result.
What’s the source?
OP’s ass
They do consider attrition when deciding layoffs dumbo
Wouldn’t be surprised if UBS evntually emoves to a one person deal team to max revenue per head.
Wouldnt change much, still zero per head
UBS=Ur Bonus Sucks
Leadership: It is a bonus after all, we don’t have to pay it
Galaxy brain - make life so bad that people quit on their own and you don’t need to pay out severance
This is their actual strategy btw
I've heard UBS is about to leave Banking to make it in the Banana business
Congrats on Dole!
Sounds like UBS management has succeeded in increasing attrition, given the comp issues and mandatory 5 days in office, etc. UBS GB Americas simply isnt a good place to work.
Average employee quality at all levels continue to decline. Total braindrain
UBS management clearly the worst IB management on Wall Street right now
Shout out to the unbearable H1B executive directors and directors for getting junior attrition up so high!
Congrats on Indian and Chinese executive directors and directors!
can confirm. feels like knowing hindi or mandarin is potentially the best way to get far in this bank.
when i get staffed on a deal team with alll americans I literally im so pumped (its super rare when this happens) because I know its at least going to be bearable.
having indian/chinese ED/Ds/MDs above you is super miserable
If UBS actually hired American ED/Ds/MDs, they would actually get more business and perform better. Americans are better with clients and have more integrity and know how to work efficiently.
But instead of hiring Americans, UBS chooses to hire the accented H1B hardos who make their juniors work 100 hour weeks on unsolicited pitches and made up analysis that doesn’t make sense, in the most inefficient processes imaginable.
Caste systems, 996, and in-group ethnic preferences are bad and don’t belong in this country!
There are multiple groups where Internationals make up vast majority of the associate's and up. The culture is that some international MD asks for very bespoke pages and analysis that nobody wants with vague instructions, which faces no push back by the ED/D/Aso. This is made worse by each level making pages or to "add value" or trying to create the most complex possible version of the old pages that either get appendix'd or deleted. All the American mid-levels,especially associates, are checked out, so a lot of them also are terrible to work for.
My group has all asian / indian EDs and as expected its a horrible place to work. Why cant we hire a nice white guy…
The MDs like them cause they are bootlickers. Almost none of them will make MD themselves..
https://x.com/exec_sum/status/2038987386428784716
Their source is literally this thread, check their ig
Yeah hahaha
Quitting after easter, lets goooo! F this firm, I used to really like working here too. Unfortunate how things have gone since 2023.
Everything that happened post 2023 is a shame. CS really ruined everything.
Imagine people applying here. Godspeed
shittest place ever
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