UBS Layoffs Job Cut: may fire 5000-8000 employees: Finance Trading Times

UBS Layoffs Job Cut: may fire 5000-8000 employees

Another set of rumors or speculation of layoffs, another company from the financial sector may join the group of companies to go for layoffs. if we go by the speculations, then the firm UBS, may have to go for UBS Lay offs or UBS Job Cuts. All this is curtesy to the expected huge losses that the newspapers and market analysts are expecting.UBS Layoffs

How many employees may be fired by UBS layoffs?
As per Sonntag, there may be a job cut of around 5000-8000 employees. However, NZZ expects that the no. of job cuts at UBS may be between 2000-3000 employees.

How many employees does UBS have?
The total no. of employees at UBS is not known as of now.

Any news of previous layoffs by the company
Yes. UBS has been reported to layoff employees in recent times in last year of 2008.

Which locations will be affected by the UBS Layoffs?
No such information is available. It's all based upon the reports quoted by certain newspapers expecting mounting losses by UBS.

Which segment of employees will be affected by the UBS layoffs
No news about that. But it is forecasted that there will be big reductions in the banks' wage bills as bonuses are cut back.

How much savings can be made by UBS Layoffs?
This will be conirmed if the bank goes for a layoff, and what reports come in. UBS will announce its annual results on February 10. It is expected that the salary or wage amount will be cut by 8 billion Swiss francs.

When will the UBS layoffs happen
No news about that.

What are the primary reasons of UBS Layoffs rumors?
Primary reason is the declining market sales and economic downturn. Losses at the biggest bank and world's largest wealth manager, UBS, will range from 20 billion to 21 billion Swiss francs ($17-18 billion), including, according to NZZ am Sonntag, a 9 billion franc loss in the fourth quarter.

Any other news about UBS?
As per Reuters News,NZZ said UBS deputy chairman Sergio Marchionne, who is also chief executive of Italian auto group Fiat SpA (FIA.MI), was questioning the ability of Chief Executive Marcel Rohner to lead the bank through the crisis.
Let's hope that alternative jobs are available to the affected employees of UBS Layoffs Job Cut, if they happen
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1 Comment: Post your Comments

Anonymous said...(on 25 February 2009 at 01:40 )  

UBS goes for a layoff

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