Thread regarding UBS layoffs

UBS has a big machine shop mentality where most team members are treated like cogs in a mechanism. In addition, you have external pressures forced by the UBS executive management where IT and Ops team is now has to be at least 70% outsourced, no more than 20% of full time team member – if this requires RIFs, layoffs or whatever – so be it. At the same time, there is a significant hiring effort going on at the Executive Director level and above, that’s where the real money at UBS is. Also, note that folks from the Director level and below are transferred around without consulting them or even a discussion of the overall impact to their income or career paths while at UBS. The feel from management is that all folks from the Director on down should just be super happy to have a job and that UBS is always right when it comes to what you should do. Because of all of this, there is a large attrition problem at the junior levels among the people who have been around for less than five years at UBS. Team members who have been here at UBS longer are holding out and hoping for a solid severance package or a buyout. So, overall, while it’s a good company you might want to consider your options as layoffs are always present, there is a big drive to outsource as much work as possible and the way the management treats our folks.