How bad is it at UBS?

2 October 2007

1 minute read

UBS is making 1,500 redundancies. Is it better to jump before you're pushed?

The Swiss bank has come a cropper after finding itself 'clearly overweight in the US sub-prime market', and is swiftly clearing out staff in both its operations and fixed income divisions.

Given UBS is better known for its equities than its fixed income prowess (it ranked 10th in European DCM in the first half of the year according to Dealogic), how easy will its fixed income folks find it to walk into new jobs? And given that the first round of redundant staff tend to receive higher payouts than subsequent ones, should UBS bankers be angling for an exit regardless?

Your thoughts please....

AUTHORSarah Butcher

Global Editor

Ja
Jane
1 May 2008
A couple of bigwigs fall on their swords (albeit rather lucratively for their pensionable years); UBS flagellates itself for having got it a little bit wrong and blames the bonus culture for its misdemeanours - confession being good for the soul;
Now watch: Magical Mystery Marvel: The board stays much the same, the now mega-wealthy (it's that bonus culture) culprits breathe a sigh of relief and life carries on as normal. Minus several thousand good employees who wouldn't work there again if it was the last bank in Middle Earth and surviving employees who have some small doubts about their future. Result.
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sc
scribbler
1 May 2008
Room 901 has already been booked
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ha
hans rudolf wiedmer
30 March 2008
UBS's bright boys should be worried about their bonusses; in fact 2007 bonusses should be paid after three successful business years.
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MU
M Usa
19 March 2008
Do u think Fed will be helping UBS such as Bear? No way...
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Ch
Chopper
1 February 2008
hahaha PLEASE understand: UBS is not the same compared to even few months ago... the culture shifted and the longer term for this place is not looking good... so many reasons that its hard to count. start with this: http://news.efinancialcaree...
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