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Haven’t they had some rounds of layoffs?
Seniors only but there's gotta be a junior one coming
Word is juniors are getting cut next week after aso bonuses
Laid off a substantial number of MD and EDs 2 weeks ago.
Assuming that junior cuts are coming at some point to right size things- they may have been waiting for YE ratings to be finalized before deciding things
How many from a few wk ago?
Have they done junior layoffs recently?
In London they cut a handful or so just before the CS juniors came in. I imagine it was a political thing where some CS MD’s insisted on bringing certain associates/analysts.
Communication for associates is next week, so let’s see what’ll happen then….
For end of year comp?
Happened in US too
i’ve heard either this week, or april
What’s general environment like there rn?
Not good
Barclays basically did a hostile takeover of the firm
What happened? Why are there so many Barc people wasn’t it CS that merged?
Following
Any possibilities of UBS avoiding junior layoffs by copying BofA and paying extremely low bonuses instead?
No chance. There’s like 4x amount of juniors with no work going around.
UBS always act nice and shit but they cut you off without hesitation lol. Have done it before so likely will do it again.
+ agree with the above, amount of juniors is straight up absurd
How many juniors are you guys rolling with if you had to avg across coverage / M&A.
As in how many per group?
No, UBS simply has too many juniors now. A lot of analysts are doing no work, am expecting a lot of bottom bucket and maybe middle bucket firings.
Are the CS people already in the office too or are they still at CS?
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