Go Back   English Forum Switzerland > Living in Switzerland > Daily life  
Reply
 
Thread Tools Display Modes
  #21  
Old 24.08.2011, 09:35
Forum Veteran
 
Join Date: Jan 2010
Location: Monaco
Posts: 514
Groaned at 61 Times in 27 Posts
Thanked 658 Times in 281 Posts
scrambled has a reputation beyond reputescrambled has a reputation beyond reputescrambled has a reputation beyond reputescrambled has a reputation beyond repute
Re: Bad news from UBS

Quote:
View Post
I'm not saying otherwise but people have to realise that the bankers who lost the money aren't the ones who suffer, and the troops on the ground are just as pissed off as everyone else when they see the top guys get huge bonuses and pay rises while they get the boot or no payrise (maybe even a pay cut) and tiny or no bonus, the last thing they need while losing there jobs is an angry mob telling them its all there fault, when in reality they are also victims.
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.
Reply With Quote
This user would like to thank scrambled for this useful post:
  #22  
Old 24.08.2011, 09:40
simon_ch's Avatar
Forum Veteran
 
Join Date: Dec 2008
Location: Zürich
Posts: 2,390
Groaned at 128 Times in 76 Posts
Thanked 3,488 Times in 1,377 Posts
simon_ch has a reputation beyond reputesimon_ch has a reputation beyond reputesimon_ch has a reputation beyond reputesimon_ch has a reputation beyond reputesimon_ch has a reputation beyond reputesimon_ch has a reputation beyond repute
Re: Bad news from UBS

Quote:
View Post
are you on drugs? just because its in IB doesn't mean they are all bankers, you recon UBS even has 3500 bankers???
There you go:
Quote:
Die UBS beschäftigt in der Schweiz etwa 23 500 Personen, gut 15 000 davon im Raum Zürich. Der Schweizerische Bankpersonalverband rechnet gemäss Medienmitteilung schweizweit mit 150 Entlassungen in der Vermögensverwaltung und im Swiss Banking, 40 im Investment Banking und 210 im Corporate Center, in dem zentrale Funktionen wie Informatik, Kontrollfunktionen oder HR zusammengefasst sind. Vom Abbau weitgehend ausgenommen sind Kunden- und Anlageberatung.
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.
Reply With Quote
  #23  
Old 24.08.2011, 09:45
bigblue2's Avatar
Forum Legend
 
Join Date: Mar 2009
Location: Glarus
Posts: 8,082
Groaned at 484 Times in 403 Posts
Thanked 14,715 Times in 5,780 Posts
bigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond repute
Re: Bad news from UBS

Quote:
View Post
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
Reply With Quote
  #24  
Old 24.08.2011, 09:52
jaudi's Avatar
Forum Veteran
 
Join Date: Sep 2007
Location: zurich
Posts: 574
Groaned at 4 Times in 4 Posts
Thanked 495 Times in 231 Posts
jaudi has a reputation beyond reputejaudi has a reputation beyond reputejaudi has a reputation beyond reputejaudi has a reputation beyond repute
Re: Bad news from UBS

Quote:
View Post
Not true, it does indeed concern investment bankers:
http://www.nzz.ch/nachrichten/wirtsc....12045361.html



Back office, IT is here in Altstetten where I work (no, I'm not a banker) and these jobs are not concerned. Not saying that there aren't any office workers involved, but it's indeed mostly bankers who lose their jobs, and that, I'm afraid is just part of the game.
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"]
Reply With Quote
  #25  
Old 24.08.2011, 09:53
simon_ch's Avatar
Forum Veteran
 
Join Date: Dec 2008
Location: Zürich
Posts: 2,390
Groaned at 128 Times in 76 Posts
Thanked 3,488 Times in 1,377 Posts
simon_ch has a reputation beyond reputesimon_ch has a reputation beyond reputesimon_ch has a reputation beyond reputesimon_ch has a reputation beyond reputesimon_ch has a reputation beyond reputesimon_ch has a reputation beyond repute
Re: Bad news from UBS

Quote:
View Post
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
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.
Reply With Quote
This user would like to thank simon_ch for this useful post:
This user groans at simon_ch for this post:
  #26  
Old 24.08.2011, 09:55
simon_ch's Avatar
Forum Veteran
 
Join Date: Dec 2008
Location: Zürich
Posts: 2,390
Groaned at 128 Times in 76 Posts
Thanked 3,488 Times in 1,377 Posts
simon_ch has a reputation beyond reputesimon_ch has a reputation beyond reputesimon_ch has a reputation beyond reputesimon_ch has a reputation beyond reputesimon_ch has a reputation beyond reputesimon_ch has a reputation beyond repute
Re: Bad news from UBS

Quote:
View Post
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....
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.
Reply With Quote
  #27  
Old 24.08.2011, 10:01
bigblue2's Avatar
Forum Legend
 
Join Date: Mar 2009
Location: Glarus
Posts: 8,082
Groaned at 484 Times in 403 Posts
Thanked 14,715 Times in 5,780 Posts
bigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond repute
Re: Bad news from UBS

Quote:
View Post
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.

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.
Reply With Quote
This user would like to thank bigblue2 for this useful post:
  #28  
Old 24.08.2011, 10:06
bigblue2's Avatar
Forum Legend
 
Join Date: Mar 2009
Location: Glarus
Posts: 8,082
Groaned at 484 Times in 403 Posts
Thanked 14,715 Times in 5,780 Posts
bigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond repute
Re: Bad news from UBS

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
Reply With Quote
  #29  
Old 24.08.2011, 10:08
simon_ch's Avatar
Forum Veteran
 
Join Date: Dec 2008
Location: Zürich
Posts: 2,390
Groaned at 128 Times in 76 Posts
Thanked 3,488 Times in 1,377 Posts
simon_ch has a reputation beyond reputesimon_ch has a reputation beyond reputesimon_ch has a reputation beyond reputesimon_ch has a reputation beyond reputesimon_ch has a reputation beyond reputesimon_ch has a reputation beyond repute
Re: Bad news from UBS

Quote:
View Post
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.
Reply With Quote
  #30  
Old 24.08.2011, 10:13
bigblue2's Avatar
Forum Legend
 
Join Date: Mar 2009
Location: Glarus
Posts: 8,082
Groaned at 484 Times in 403 Posts
Thanked 14,715 Times in 5,780 Posts
bigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond repute
Re: Bad news from UBS

Quote:
View Post
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.

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
Reply With Quote
  #31  
Old 24.08.2011, 10:22
simon_ch's Avatar
Forum Veteran
 
Join Date: Dec 2008
Location: Zürich
Posts: 2,390
Groaned at 128 Times in 76 Posts
Thanked 3,488 Times in 1,377 Posts
simon_ch has a reputation beyond reputesimon_ch has a reputation beyond reputesimon_ch has a reputation beyond reputesimon_ch has a reputation beyond reputesimon_ch has a reputation beyond reputesimon_ch has a reputation beyond repute
Re: Bad news from UBS

Quote:
View Post
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.
Reply With Quote
  #32  
Old 24.08.2011, 10:25
economisto
 
Posts: n/a
Re: Bad news from UBS

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
Reply With Quote
  #33  
Old 24.08.2011, 10:28
bigblue2's Avatar
Forum Legend
 
Join Date: Mar 2009
Location: Glarus
Posts: 8,082
Groaned at 484 Times in 403 Posts
Thanked 14,715 Times in 5,780 Posts
bigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond reputebigblue2 has a reputation beyond repute
Re: Bad news from UBS

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.
Reply With Quote
  #34  
Old 24.08.2011, 10:50
California Dreamer's Avatar
Forum Veteran
 
Join Date: Mar 2007
Location: Zurich
Posts: 1,082
Groaned at 209 Times in 101 Posts
Thanked 1,217 Times in 623 Posts
California Dreamer is considered unworthyCalifornia Dreamer is considered unworthyCalifornia Dreamer is considered unworthyCalifornia Dreamer is considered unworthy
Re: Bad news from UBS

Quote:
View Post
Well, that's also thanks to some yanks sueing UBS for helping them to evade taxes before (?!). They want their money back. Only in America...

http://www.20min.ch/finance/news/sto...n-UBS-12977992

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
Reply With Quote
  #35  
Old 24.08.2011, 11:01
Guest
 
Posts: n/a
Re: Bad news from UBS

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

He'd show the bosses what for!
Reply With Quote
The following 3 users would like to thank for this useful post:
  #36  
Old 24.08.2011, 11:28
marton's Avatar
Forum Legend
 
Join Date: May 2008
Location: Kt. Zürich
Posts: 11,809
Groaned at 611 Times in 517 Posts
Thanked 21,740 Times in 11,420 Posts
marton has a reputation beyond reputemarton has a reputation beyond reputemarton has a reputation beyond reputemarton has a reputation beyond reputemarton has a reputation beyond reputemarton has a reputation beyond repute
Re: Bad news from UBS

Quote:
View Post
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
That is amazing, I suppose it was in addition to the 100+ billion support from the SNB for crappy assets, etc..
Reply With Quote
  #37  
Old 24.08.2011, 11:29
mirfield's Avatar
Moddy Wellies
 
Join Date: Apr 2007
Location: North Yorkshire
Posts: 8,729
Groaned at 53 Times in 47 Posts
Thanked 9,942 Times in 3,654 Posts
mirfield has a reputation beyond reputemirfield has a reputation beyond reputemirfield has a reputation beyond reputemirfield has a reputation beyond reputemirfield has a reputation beyond reputemirfield has a reputation beyond repute
Re: Bad news from UBS

Quote:
What you chaps at UBS need is someone like Arthur Scargill.
Paul Daniels?
Reply With Quote
The following 2 users would like to thank mirfield for this useful post:
  #38  
Old 24.08.2011, 11:35
amogles's Avatar
Forum Legend
 
Join Date: Mar 2008
Location: Zurich
Posts: 12,361
Groaned at 338 Times in 274 Posts
Thanked 26,263 Times in 11,000 Posts
amogles has a reputation beyond reputeamogles has a reputation beyond reputeamogles has a reputation beyond reputeamogles has a reputation beyond reputeamogles has a reputation beyond reputeamogles has a reputation beyond repute
Re: Bad news from UBS

Quote:
View Post
Paul Daniels?
Jack Daniels?
Reply With Quote
The following 4 users would like to thank amogles for this useful post:
  #39  
Old 24.08.2011, 15:00
porsch1909
 
Posts: n/a
Re: Bad news from UBS

Quote:
View Post
Jack Daniels?
Jack Black?
Reply With Quote
  #40  
Old 24.08.2011, 20:41
Wollishofener's Avatar
Forum Legend
 
Join Date: Jun 2009
Location: Glattbrugg
Posts: 18,978
Groaned at 332 Times in 257 Posts
Thanked 11,715 Times in 6,858 Posts
Wollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond reputeWollishofener has a reputation beyond repute
Re: Bad news from UBS

Quote:
View Post
are you on drugs? just because its in IB doesn't mean they are all bankers, you recon UBS even has 3500 bankers???
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
Reply With Quote
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Financial Crisis Bank News [was: How Safe is UBS?] delite1 Swiss politics/news 2629 15.08.2019 11:29
..and the bad news is. Upthehatters2008 General off-topic 10 25.10.2010 15:15
Very bad news for British Bird lovers Louis Wu Other/general 1 30.06.2009 14:02
UBS 2nd Q results, good news? Nickj Finance/banking/taxation 10 05.07.2008 02:07
Bad news for 4ft dwarves in the Alps DeadLast Jokes/funnies 0 26.11.2007 13:43


All times are GMT +2. The time now is 23:12.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0