Ubs layoffs starting today
Layoffs hitting in Asia in WM now per bloomberg. Any news on IB?
Also saw an article that Andrea Orcel may return to UBS? Anyone have opinions on him?
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What's the point of all these threads? UBS has seen some uptick in revenue since the acquisition and the CEO and leadership have both repeatedly stated and taken action in growing its US division. Some layoffs will happen since some groups are seriously overbloated, but I don't see the point of continuously giving us fear with posts like this.
give it time, not sure when it'll end but i heard it will be done by end of march
hearing the hammer goes down either right before or right after easter.
personally before (killing the bankers before easter) feels better
Careful they don’t come back three days later …
you can never kill a banker as they do god's work.
Will this hit Americas/US as well? Or mostly in Asia as you mentioned
Is it affecting US as well??
layoffs happened today in us
What does it look like on the floors?
Any idea if complete? What’s the severance
Does it impact juniors in IB?
Curious monkey here, anyone who can provide an update?
Heard of significant cuts in M&A and GIG thus far, and a select few in other groups. Probably not over today
Analysts? Associates? Directors?
most md in M&a, a few associates in gig
This makes sense in terms of the group. Other groups like FIG will also most likely see some layoffs, and maybe further GIG/M&A layoffs since those groups remain overstaffed with juniors without enough seniors/deal flow. HC/TMT is also seemingly overstaffed, but those are the groups the senior leadership said they wanted to grow the most so those are a bit more questionable.
Bump for visibility
Bumping
How was the severance
Anyone have any details on groups impacted, severance etc?
Not questioning the legitimacy of these claims, but I think I've seen a UBS layoffs thread every other week since Credit Suisse went bust
That’s because they do 3%-5% layoffs every couple of months
Yeah its more like they are doing 1-2% layoffs every quarter to maximize the angst and rumormill of employees constantly discussing the topic. If leadership was smart they would do 1 big round and say no more coming for rest of the year
UBS has had more layoffs than some, but it's not been immensely more. They are just doing it in very small waves, and they are seemingly going to continue to do it that way which is causing way more unrest. The numbers are 3-5% at least for coverage groups & M&A, not sure how it looks for things like DCM/ECM.
Any news for product groups?
UBS' strategy for layoffs makes no sense, they just do what Citi is doing and do some massive layoffs instead of just laying off a few people once every month. This is just causing more angst and fear than the usual one big layoff that everyone else does. I am not even sure if UBS has had the most layoffs for this year since it seems like all the layoff rounds happen for such few people. There have been 2 so far, and both have been a very small fraction even for the overstaffed groups.
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