UBS IB Fall 2025 Layoff Updates
Another poster mentioned large cuts in the Fall. Creating thread for updates on rumors, layoffs and which groups will be impacted
Trending Content - Investment Banking Forum
| +326 | UBS Tech MD hires Son (from no-name college) as an Intern | 57 | 13h |
| +242 | Evercore Intern Seizure | 38 | 20m |
| +90 | [Official] 2026 IB Analyst Bonus Megathread (with 2025 Consolidated Pay and Perks/Benefits) | 12 | 2d |
| +55 | Is DCM actually underrated ? | 21 | 12h |
| +54 | JPM M&A is Gone??? Purely Coverage Banking??? | 22 | 3h |
| +46 | Are all Tech / TMT groups sweaty? | 33 | 1d |
| +40 | Losing my personality in Banking | 6 | 2h |
| +39 | Am I behind? 31 Year Old Analyst | 9 | 1d |
| +38 | Associate & Above IB exits | 16 | 2d |
| +31 | Incoming IB Analyst: Best Ways to Prepare? | 8 | 2d |
Career Resources
Next week is probably as good a time as any given week before Labour Day, which is always pretty calm. The new analysts just started and feel as if there are fewer of them than in your analyst class, which seems like a sign that you might get laid off. Additionally, it's fairly clear which groups UBS prioritizes for growth (just look at which groups are net MD positive and which ones are net negative in terms of hiring); I would assume that the groups with more seniors leaving than joining at the senior level will likely experience junior-level layoffs.
As a general statement, every group at UBS except ECM is down both relative to street/market share and relative to last year. The product groups (LevFin and M&A) have fallen off a lot in market share, and I would think they are at the biggest risk of layoffs, given they are product groups and seemingly don't have anything to execute on.
Agree with your post other than doubtful its next week as everyone is on vacation or WFH
Even better can just call everyone before the new hires really start
That was my thinking about why it would be next week. Everyone WFH + no deal flow week = they can fire people without much retribution or people being mad. Either way, think the product deals are the most likely to be on the firing block; LevFin and M&A are the biggest groups in the bank, and they don't have any deals to execute on. It's not the product team's fault that nothing is being originated, but they are most likely to suffer since it's hard to justify the size of the groups given flow.
Poor product bankers; not sure what they are supposed to do if the coverage guys can't source anything. The only reason UBS ECM is up is because of the fact that they did no ECM deals last year, and this year they are the 2nd/3rd on a few tech IPO's and follow-ons (none of the big ones either). Even in the one thing they are up in, it's not exactly they are a leading franchise; just that the market for Tech ECM has drastically picked up over past few weeks.
Did anything happen this week?
No layoffs this week. I think people have been calling for a large wave all year this year and last; only firings have been very small waves of largely bottom bucket (and I assume a few middle buckets who lost political battles) at the junior and mid-levels. I do think there is bound to be more layoffs, just unsure if it'll be either the same slow rounds or just one large round. It kind of seems like there are a lot of groups where people are just trapped because they do nothing, AND have no deal experience. It doesn't seem like groups like RELL, M&T, FIG, M&A, etc. have either.
From what I am aware and what the previous about UBS exits showed for the most recent (2025) exits, only real groups to have various successful MM+ exits are LevFin, Industrials, Tech, and HC, so I can understand why those in other groups are frustrated. Will note that LevFin and Industrials both have flow, though will also admit the flow has weakened drastically since my first year/last year.
Yeah its gonna be a tough layoff round no doubt. Some teams have tried to pre empt it by making low intern class offer rates.
But think mid levels and non productive MDs will be on the block, as well as any bottom bucket folks still here from last year
They should lay off all of SF Tech. That's around 10 non-productive MDs. Tech as a whole has underperformed obviously, but SF has double the seniors as NYC and somehow less than half the fees. Every group has non-performers, but the SF Tech guys just seem easiest to lay off. Arguably, Tech NYC as a stand-alone unit is doing fine now, especially relative to overall UBS performance, given the group has only 5 MDs (including 2 new ones from BoFA who just joined past 3 months) and has double the fees of SF Tech (with ~10 MDs).
Sf Tech group head not about to lay himself off, and his buddies in SF
Right, you know how many juniors that would spare from being laid off?
1 non-lead IPO roles and all of a sudden NY Tech starts bad mouthing SF Tech. Both still stink, 1 just got lucky
Would they get rid of product groups all together and redistribute them into coverage groups as specialists?
They are trying to make it Barclays, so wouldn’t be shocked
Could see them getting rid of the M&A group like at Barclays. Team sucks and should just be M&A units within coverage groups to execute.
Think GIG and Sponsors also ljkely will have large cuts. Lots of MDs have left and no replacements have been hired, so there are way too many juniors
And goes without saying the entire Tech team should be axed. Would be an immediate $50mm EBITDA bump
Tech should be axed (though not uniquely so; every UBS coverage group this year, except maybe CR, has been terrible), but it's probably the least likely to get axed, given that it's one of the few groups with more MD hires than fires. Agree on the rest of the points. UBS M&A is a completely worthless group with no deals and way too many people who are toxic across all levels. Will also add that LevFin is probably the strongest group in the bank, but is also clearly way too large given the bank's lack of deal flow.
Agree other than I dont want any M&A people joining my groups. Those people suck, every single one is worse than the next.
All the cool M&A people have left over the last two years
Will also double this statement; M&A is the most toxic group in the bank and is filled with the worst people on a personal level.
Just when all the UbS threads on here had cooled off…
Tech ECM activity (probs like $25mm in revenue) is not gonna be enough to avoid the bloodbath to come
I think that's the point being made on this thread... UBS as a whole has done nothing major deal-wise this year except a few Tech ECM things, and 2 CR M&A deals. The bank has just failed across the board this year. Most groups have basically contributed $0 in fees; you know the bank is doing badly when UBS Tech (the single most clowned on group in this forum) probably has more fees than most other coverage groups in the bank.
Lots of hate on the M&A group. Is Hinton the cause?
Feel like they gave him like no budget so he was forced to only hire like Sr VPs and Jr MDs
Many of which are ex Barclays buddies??
I think the group just gets clowned on because their juniors and mid-level are a-holes and not very nice to their coverage peers, alongside their perceived lack of usefulness given a huge failure of UBS in M&A.
What happened to GIG, thought they carried the platform?
Lost various MDs, some big deals closed in 2024; no real deals closed in 2025. Since Celsius/Walgreens, the highest fee-generating activity has probably been being the 2nd/3rd bookrunner on Tech IPO's for UBS. The franchise is just doing terribly.
Think UBS IB in the Americas has more expenses than revenue?
Marco should be next… his job is to keep the place steady and protect people from a disaster like this. Instead, the bank’s a mess, mass layoffs appear to be imminent, and he filled the bank by scrolling through his phone contacts and turning it into a frat house.
SF office should be shut down. Total cost center
Cuts in FIG going to happen?
Think FIG fits in with HC and Tech, where it is very unlikely to be lay-offs simply because the group needs more people/is expanding senior headcount. To a large extent, junior headcount is determined based on senior headcount and deal flow; they doubt they'd lay off juniors when the bank has expanded senior headcount. Will note mid-levels, as always, remain possible for layoffs.
They will layoff seniors and juniors, let new seniors bring in their own juniors
Well known that GB doesnt turn a profit, especially the americas. The least profitable business unit / geography at the entire bank excluding the non core unit lmao.
Overall the IB does, but only become of global markets.
Time for a junior walkout (involuntary, forced by HR edition)
I’m in SF Tech…our MDs are so bad. All juniors trying to lateral banks
What makes them that bad that even an analyst can clearly see it?
Deal announcements, SF Tech MDs have at most been cited maybe once over the past year on a non-debt related team without an accompanying NYC MD, and they aren't even that good in LevFin, despite the team having 10 MDs and hiring 5+ analysts a year. If you see every other group getting a bunch of non-debt deals and your team not getting any, pretty clear there's an issue there.
Will it be possible to lateral after 6 months in as 1st yr ana? Current Ana at top UBS team and worry about job security
Yes, some people lateral out analyst years. There was an An1 in HC who left for GS recently, even in this crappy market. You are pretty much as good of a candidate as will be possible for BB/EB roles at since UBS is still a pretty well respected bank relative to other banks in the grand scheme of things (i.e. most financial institutions where hiring is done by seniors who started decades ago will probably lean towards a UBS canidate vs someone from a more traditional MM firm).
I will say that to some extent, this depends on the group. You will probably have more options from a traditional coverage group than, say, a LevFin (where, for better or worse, the assumption is that you're skillset/knowledge is all in capital markets only).
I latered banks, feel free to DM me if you have any questions. Also happy to walk through the process. Do agree on dude below that group seems to matter a bit since it's going to just be easier to recruit for same group.
Just messaged - thanks!
Definitely possible. I did the same 8+ years ago (time flies). Moved from a MM to a BB after 6 months. Deal experience definitely helps, gives you more to talk about and can demonstrate what you've learned. Ability to move is often more market dependent than anything and trying to stay on top of opportunities. I've also known people who reached out to the analyst on the other side of a deal, asking if they've had openings lol. Probably not a strategy I would lead with but it can be an option. Make sure your friends at other banks are aware you are looking so they can push for you if something opens up at their firm, often they will get a heads up before something is publicly listed.
I hope I get laid off, I am so miserable and hate how toxic this bank is
Be a man and quit loser vs whining on a website. If you are that hard up for severance you have bigger issues.
Agree this places turn for the worse keeps somehow getting worse. Will end in mass layoffs…
Marco and Javier, relax!
The happiest people at the bank are those just coasting with jobs lined up. You get paid street bonuses (at least everyone I know is) at the junior levels for working less than peers at other banks. It's really a skill issue if you can't find a solid at least MM exit (know a decent number from going to UMM PE too), you either screwed up in placement (ended up in shit group like DCM, RELL, etc.) or can't interview (definition of skill issue).
Edit: just to make my point clear, UBS can be fine and even a great spot, it just depends on where you are, what you want out of things. There are a bunch of analysts with MM and UMM exits lined up, getting paid street bonuses for below-street-average hours, who, afaik, are relatively happy. Also, obviously, UBS has toxic people and groups, but there are various non-toxic people and groups (just as every other bank). If you are a good junior, you can choose to work with only the good people, and they'll want you on their teams, so it works out. Even SF tech (which correctly gets shit on) has a huge difference in quality of people in terms of how good they are to work for.
One thing we can all agree on is the two idiots in the prior post arguing like 12 year olds should both be fired.
You looking for go time? What’cha got? I think I will call you Karen as you sound like one despite not being equipped like one…
My team has had no real live deals or anything closed in the last 18 months lol. Please lay me off or I’ll quit soon
An MD problem or a market problem?
Both, we don’t have many seniors left and the culture is fucked
You were up at midnight on a Friday ahead of a long holiday weekend hate posting and employer who pays you at least $200k a year based on the time stamp?
Something else apparently hasn’t happened in 18mos either…instead of talking about it and whining on social media why don’t you just quit? My guess is there is a reason and it ain’t all them…I hire virgins all the time at my company but they have more productive hobbies…
You’re truly interesting. Guess why I was up? Working on random stuff. Still working today and tomorrow that’s who’s bad it it
That funny a couple of other posters said the same thing about you (eg how much you suck…and swallow)…glad you came up for air to write this enlightening post…
In your case not so sure as you don’t seem to have great judgement and don’t seem have a good EQ or IQ…but keep ranting on the boards vs taking accountability and driving your own decisions and life…hahaha loser
Wah wah wah…this place ruined my life…if I had only taken the other job…wah wah…I make $200k a year
Like how pathetic of a loser are you that you whine online? Clearly you are not doing well at this place which suggests you wouldn’t do well at other places either. Get your toilet brush ready bro Darwinism and life is going to relegate you to exactly what you were meant to do…
Approaching the levels of the ex-UBS people continously posting talk about UBS that is very clearly based on 18 month+ old info.
Facere vitae voluptatibus sit necessitatibus sed asperiores. Quia voluptatibus error sunt accusamus eveniet. Sequi ut in qui laborum impedit pariatur et est.
Commodi animi velit qui. Quia aut exercitationem culpa rerum libero. Mollitia iure saepe vel blanditiis eligendi voluptates ut.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Repellat eaque qui consequuntur quas. A unde ea corporis voluptatibus molestias voluptatem. Sunt nesciunt non animi repellendus. Dolorem est autem mollitia nulla facilis. Qui officiis aut sed cumque. Dolores occaecati ratione nihil aliquid quae.
Veniam porro sed animi quidem. Corrupti quas cupiditate ad beatae assumenda facilis dolores. Dolores suscipit sint voluptatem reprehenderit et voluptatem. Harum rerum eaque adipisci similique.
Est voluptate libero et molestiae sit autem. Iusto autem ut sint expedita. Assumenda atque unde sit eveniet ut. Omnis debitis aliquam libero.
Deleniti eum ipsum ipsa dolor et autem soluta. Enim id laborum aut. Et dolor sed sint quasi sunt.
Accusamus nemo quibusdam itaque ratione et eos. Qui quae quibusdam recusandae et officia temporibus.
Hic voluptatibus aut doloribus. Consequatur a voluptas voluptas tenetur. Eum nihil laudantium non sed et. Provident aliquid et tempore minus beatae nihil.
Voluptatem ipsam corporis quaerat est ipsam et. Ab dolor facilis omnis aut itaque aliquam in. Corrupti rerum voluptas non vitae deserunt libero veritatis. Minima praesentium rem consectetur sint.