Every current employee should begging a job search immediately. In effort to further destroy the banks revenue, they will continue to keep increasing cost targets and likely give zero to low bonuses. They are no longer trying to build and compete, but trying to grow by cutting costs.
Source:
UBS CEO Signals Job Cuts Will Continue in Quest to Lower Costs
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Sounds like a 5 alarm fire
Next round when?
(The only question the last 2 years)
This is not speculation, it's just a fact. UBS is cutting costs after a merger and this means integration of support and cutting redundancies (firing people). Would assume that a few bottom-bucket juniors get fired on teams that are overstaffed with people doing nothing and would also expect underperforming seniors to be fired.
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