Whenever you think there will be no layoffs/job-cuts/RIFs they change the approach. Now all people are talking about job cuts in Zurich.
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Topics regarding layoffs at UBS
Do we have any updates here? If I remember correctly, there were rumors that they will be hit hard in June 2016 - has any of that happen?
and that should be when the layoffs are cometed so new head in Singapore can do a show and tell on body count and song and dance to hapless survivors. Am in WM division for over 10 years , Retrenchment usually coincides with payroll 19-22th day of... read more
Hi. We must remember who the most important people are. It's me and the board members. I need to get rid of all American worked so I can get our bonuses over $100 million. I mean I do have the company pay some Irish lady to sing what I like for... read more
Now, you gotta be very, very careful when it comes to dealing with characters that work for UBS. They lie to you and promise you whatever just to keep you there until they say okay your not needed any longer. And they tell you no when you ask for... read more
Focus: Stamford - Compliance Group and GFS IT / Applications. Some software engineers in Nashville and Jersey City. This is what I heard, so take it with a grain of salt. 2016 may turn out to be a very challenging year as they are pushing for even... read more
Do we have any updates on layoffs in Stamford, Conn? It's all over the news.
Anyone heard more about this? Is this thing for real or what? Are we going to be cutting people on the Private Wealth side?
There is a big hoopla about banking layoffs right now but it's mostly on the mortgage side of the big commercial banks. UBS is not affected by this but if the mortgage side at commercial banks continue to tank, this may spread beyond and affect UBS... read more
You never know what's going to happen and when UBS will cut. I have been with the company for about 11 years now, I can give you a piece of advice. Ignore all layoff rumors, it does not matter what you hear, 2015 cuts, 2014 cuts, whatever. You need... read more
So, here is what I heard, it might be all fake or not true but this is the rumor that I heard. The IT group will reorganize around 3/1/2015, some groups will be merged and this will require that we let go off some managers, now the rumor has it that... read more
Expect a lot of promises and a lot of work. Get ready, 80 hr work week cannot be worse. Good luck
Do you know if PaineWebber is still laying people off. I noticed a job posting by PaineWebber and I'd like to apply, yet given the uncertainty caused by the latest round of layoffs I am not sure if I need to pursue this opportunity. I know that this... read more
Any news here, I heard that there might be some significant cuts in Coral Gables. Anyone?
Around 100 folks were let go, mostly broker aides
Anybody has more info about this - I heard that there might be a reorg at UBS and since I am considering joining the company I wanted to see if insiders had more info about the plans. To be frank, I heard that there will be a reorganization effort... read more
In 2012 there was a major cut - I was let go in December 2012. I am not sure what happened after I left but I know that we were talking about 15% cut. Ermotti was making statements about shaping up Investment Banking and billions of dollar in savings... read more
A serious question: who works at UBS? Its been like what, 7 years of non stop bad news. What makes some 22 year old think "well, after all that utter shit and mediocrity, I am sure ILL live the models and bottles life style I read about on wso"
Not working at UBS is it's own reward....unless you got kids or mortgage or a timeshare in the Hamptons
2014 and after - if you work in Boston, Chicago, Dover, New York, Salt Lake City, Stamford or Wilmington (all Americas) you might be on the chopping block - get your resume ready...
What is a typical severance pay for the UBS people who were found redundant in UK?
Just like cancer, a small number of dangerous and bad-behaving cells slowly but surely kill off the normal cells. UBS body is not dead yet, but many of the good body parts are killed off because of a few bad behaving cells. UBS is not just a few evil... read more
Profits are up, we are making money, everyone is happy. Can it be better? Certainly! But, we can stash a billion every quarter, pay nice fat bonuses, take care of our people and customers - while we march forward there will be casualties, some... read more
Nothing more to add for UBS, we do let people go all the time, I think we have 60,000 employees, you would expect at least 2% to be let go every year from UBS, so that is 1200 folks, roughly 100 every month, it's really nothing major for UBS. We did... read more
I'd appreciate if someone can post reliable information on the 2014 layoffs at UBS. I work for a competitor and we went through 2 rounds of cuts in 2013 and one round in 2014. Long story short, it's unstable here and I applied for a position with... read more
UBS has a big machine shop mentality where most team members are treated like cogs in a mechanism. In addition, you have external pressures forced by the UBS executive management where IT and Ops team is now has to be at least 70% outsourced, no more... read more
The main office has become a horrible politically-driven, bureaucratic mess. Pretty much all managers are required to force-rank employees by positions/titles even though roles and areas of expertise may be very different. In turn, this morphs into a... read more
So, no surprises here - you'd have to agree that this is common practice in the industry and UBS is not an exception to the rule. Hire, fire, hire again - it's a never ending cycle. In addition, financial service companies were first to move offshore... read more
We have layoffs all the time and people are used to it. Just go with the flow, do not complain too much and you’ll be fine. If you get cut, you’ll have enough skills and you will be prepared by UBS to go work anywhere else. It’s a reputable company... read more
This week is London turn, a Swiss kiss before dying?
UBS is doing layoffs. In less obvious news, Obama is president.
can someone email me one day when there are no ubs layoffs?
Layoffs are happening (yet again) at UBS this morning, in equities (specifically stock loan, PB and sales/ trading).
A round after round after round... Wealth management unit is hurting, jobs are being sent to India, there is no return here...