in the end, everybody suffers to some extent. the rank and file bankers get laid off and fired all the time. i think the average ibanking drone out of business school lasts for 2 or 3 years before they get cut or burn out. these big bonuses are only paid to the superstars, and that's only because if they didn't get it, they would just leave and take their clients to another bank.

There you go:
And yes, UBS employs quite a bit more than 3'500 bankers. Let's not play the victim card, it's a very well paid job, there is always a risk of getting fired after so many great years.

english forum, ENGLISH forum

I'm not playing the victim card at all, just showing the other side of the coin. I can't really see what point your trying to make either, especially if you work for ubs?? you know as well as anyone else that 3500 actual bankers (eg people who do the gambling, not people lumped together with the banker tag) would lose there jobs

And if you read carefully, you will notice no *explicit*cuts from Corporate Centre - those divisional percentages include Corporate Centre staff as required...which includes IT....

[from the original media release "These numbers include Corporate Center headcount and charges allocated to the business divisions"]

Where do you get your information from if you can't read German media if I may ask? How do YOU know what kind of people are being fired?
Personally I prefer a real source to guessing.

True that, it does of course not only, but just mostly, affect bankers, which was my original point. Another point is that the 200 cuts in the corporate center mostly affects the Controlling department, as the UBS aims to decentralise its national units somewhat. So less decision making through Zürich. All in all, it's not the end of the world if UBS fires some people, it just preempts some important structural changes within the company and Swiss investment banking in general.

My god, did someone steal the jam from your donut??

having worked for ubs IB I have seen quite a few rounds of cuts, so know first hand the kind of jobs that go, but if you think your safe then bully for you.

LOL groans and neg rep from simon.ch LOL

Really, grow up

you hint that you work for ubs, do you really?? your attitude seems to suggest otherwise, if you do your a terrible ambassador for them

Surely you're more mature by giving negative rep back with a dubious "race card" notice ?
Anyway, let's discuss the topic at hand shall we? And no, I don't work for UBS, I just don't see why I should pity a couple of investment bankers losing their jobs (plus a few others admittedly), it's part of the game they have chosen to play.
And the kind of jobs lost is known, all you have to do is read intead of making assumptions.

so your arguing when you know absolutely nothing about UBS, the structure, the staff, the culture there etc etc

you basically read all the bs in the press about banks and bankers and are just regurgitating it with your own biased spin added for good measure.

"if you can't read German media" sounds like the race card to me.

fortunately I don't rely on the press for my information, they have there own agenda

a) I know the UBS fairly well from my job
b) It's not biased spin, it's simply a press release from UBS, media reports plus an assessments of the banking association where and what jobs are lost that I base my opinion on.
c) Not being able to read the only language relevant and detailled information (about this topic) is published in obviously puts you in the position of having to guess and trying discredit me with personal attacks - nothing to do with the race card really.

Again, just read up on it and we can discuss the topic at hand instead of resorting to ad hominem attacks which are quite frankly, rather silly. And don't take my red blob too personal please, I am quite liberal at dishing them out when I read an ignorant/uninformed post, so no hard feelings.

Ahem.....

1. Quoting non-English sources must be accompanied by a translation.
2. Reputation source/comments are private like a private message.
3. Cool it please.

Thanks

no, your a typical arm chair critic, spouting off what you read in the press, you have no first hand knowledge of ubs yet you post like your an authority on the subject.

I don't need to 'read up' on what cuts at ubs are like, I saw at least 3 rounds of cuts during my time there (and no I wasn't in any of them) actually working for IB, so no, not really ignorant or uninformed

I'm not getting further into any kind of debate with you about it, your 'knowledge' comes from hearsay and the press and is frankly worthless.

__________________
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Yeah, all 77.2 billion that UBS received in "secret loans" from the fed. "Only in America" STFU.

http://www.bloomberg.com/news/2011-0...ret-loans.html

What you chaps at UBS need is someone like Arthur Scargill.

He'd show the bosses what for!

That is amazing, I suppose it was in addition to the 100+ billion support from the SNB for crappy assets, etc..

Paul Daniels?

Jack Daniels?

Jack Black?

Time now for some questions
> is it clear how many people will get "reduced" by "fluctuation" and how many will be sacked ?
> and to speak about those to be sacked, how many % will be of what kind of employees exactly ?
> what service-sectors will get reduced ?
> will higher up employees (Prokuristen, Directors) be save or will that level also be hit ?
> will the process now started also result in strategic changes for the top brigade ?
-
please abstain from "ideological rethorics" but try to tackle these questions