Remember when UBS management announced they’d internally come to the conclusion they aren’t so great at investment banking and would thus be scaling back their manpower in said area? Apparently they’ve finally gotten around to doing so.
“Cuts are going down at UBS this week and next. And bonus expectations are, as you can imagine, pretty low… maybe 60%+ less than last year low.”
http://dealbreaker.com/2012/02/layoffs-watch-12-ubs/#more-66009
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