UBS has brought back several employees who were put on leave
when it unveiled a drastic pullback from fixed income last week, and more could
follow, sources familiar with the situation told Reuters
The Swiss bank stopped dozens of traders from reaching their
desks in London last Tuesday, when it unveiled an exit from most of its rates
and bond trading businesses in a strategic overhaul that will lead to 10,000
global layoffs. The bankers were placed
on special leave until further notice, while in the United States UBS fired
several fixed-income employees by phone.
It could also ask more to return or rehire some where
needed, said three other sources, including UBS insiders, adding that some
desks were now too thinly staffed to operate properly, if they were desks the
bank ultimately wanted to keep going….
Read all about it at http://www.reuters.com/article/2012/11/07/us-ubs-jobs-rehires-idUSBRE8A626Z20121107
No comments:
Post a Comment