UBS layoffs
Heard in the rumor mill that layoffs are coming for US IB, anyone have any insight?
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Definitely needed
The amount of juniors doing nothing is crazy.
Happening today. Some cut already. More likely tomorrow :(
For those with first-hand info – are cuts focused on specific groups like last time (healthcare, etc.) or across the board?
Yes, it is definitely heart breaking but would be helpful to know the size and breadth (group, #) as others are trembling in fear
It isn't so much that there's no work being done by juniors...it that's there's very little relevant high quality work that's closing likely to close resulting in FEES.
Lots of pie in the sky sellsides going one for one year plus keeping juniors extremely busy. Most will never close.
This
What? My coverage team is busy with plenty of active mandates
Which group?
Analysts affected?
Read the BBG article (cannot share link)
From the article, it looks like a small round but would like to get more insights if anyone inside is willing to share more annonymously
RIFs were very minor, mostly a few useless MDs and a few juniors including analysts yes. Definitely bottom performers or no pipeline type people.
I’m sure another round to come soon…stay safe
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