The Brutal Way Some UBS Employees Discovered They Were Laid Off

ubs, banks, bank,

UBS has announced 10,000 layoffs, and they’ve started immediately.Shocking detail from FT:

Some of the Swiss lender’s fixed income traders discovered that their passes were no longer working when they tried to get to work at its Finsbury Avenue offices on Tuesday morning, bank insiders said.

“I was glad to see that my pass was working this morning,” said one banker who made it into the offices.

(Via Justing Fox)

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at

Tagged In

clusterstock-us ubs