job cuts
Wall Street bonuses dropPosted by RJ and Makay on Mar 05, 2012 |
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Wall Street cash bonuses for 2011 are believed to have fallen 14% from 2010 and are likely to have dropped to their lowest level since the financial crisis of 2008, according to a recently released New York state comptroller report. Wall Street securities firms will dish out $19.7 billion in cash bonuses to employees, significantly down from $22.8 billion in 2010.
UBS may cut more jobs at its investment bankPosted by RJ and Makay on Oct 21, 2011 |
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UBS AG may shave about 1,700 more jobs at its investment bank as the firm continues to shrink its fixed-income business, according to JP Morgan Chase analysts. UBS had already unveiled plans in August to cut 3,500 jobs, including 1575 from its investment bank, in an effort to save 2 billion Swiss francs in annual costs by the end of 2013.
UBS job cuts won’t impact U.S. advisorsPosted by RJ and Makay on Aug 24, 2011 |
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UBS AG’s planned elimination of 3,500 jobs will not directly impact client-facing advisors in its Wealth Management Americas unit, a UBS spokesperson said Tuesday. The cuts involve 3,500 jobs worldwide, part of a wider strategy to reduce costs by 2 billion Swiss francs ($2.54 billion) by the end of 2013. News of the plan emerged Tuesday in an internal memo from group chief executive Oswald Gruebel.
Jay Leno (American TV Host and Comedian, b.1950)
