>UBS CEO Ralph Hamers said the enlarged bank has targeted $8 billion (CHF7.4 billion) in cost savings by 2027. Around $6 billion of these savings will likely come from staff reductions, reports the Financial Times.
Well, Zurich more than anything.
So no more Fachkräftemangel?
Surely all the branch jobs, hr, marketing, large numbers in central finance functions, good amount in wealth management, non core IT functions etc.
What’s also interesting is what will happen to all the real estate that CS has, and it’s A LOT – just in Zurich: Paradeplatz, towers in oerlikon, that massive office next to Strassenverkehrsamt, 1 or 2 floors in sihlcity and countless smaller spaces all over town.
I was going to say “well, time to find a real job” but then realized they probably mean the poor fucks at the bottom of the corporate ladder.
They will probably not even cut their bonuses.
Seems easy enough to save 7 billion at CS:
“Laut dem in dieser Woche publizierten Geschäftsbericht beschäftigt die CS 1400 sogenannte Risk-Takers. Diese höher gestellten Manager haben 2021 insgesamt 1,5 Milliarden Franken verdient – praktisch gleich viel wie im Vorjahr. Pro Kopf ergibt dies ein Gehalt von über einer Million Franken.”
_surprisedpickachu_
About time
This is a potent reminder to all to have no allegiance to management. They don’t give a shit about you.
When you work there, you know the game and how it’s played.
Fool me once, shame on you
Fool me twice, shame on me
BTW, it’s 2023.
10 comments
>UBS CEO Ralph Hamers said the enlarged bank has targeted $8 billion (CHF7.4 billion) in cost savings by 2027. Around $6 billion of these savings will likely come from staff reductions, reports the Financial Times.
Well, Zurich more than anything.
So no more Fachkräftemangel?
Surely all the branch jobs, hr, marketing, large numbers in central finance functions, good amount in wealth management, non core IT functions etc.
What’s also interesting is what will happen to all the real estate that CS has, and it’s A LOT – just in Zurich: Paradeplatz, towers in oerlikon, that massive office next to Strassenverkehrsamt, 1 or 2 floors in sihlcity and countless smaller spaces all over town.
I was going to say “well, time to find a real job” but then realized they probably mean the poor fucks at the bottom of the corporate ladder.
They will probably not even cut their bonuses.
Seems easy enough to save 7 billion at CS:
“Laut dem in dieser Woche publizierten Geschäftsbericht beschäftigt die CS 1400 sogenannte Risk-Takers. Diese höher gestellten Manager haben 2021 insgesamt 1,5 Milliarden Franken verdient – praktisch gleich viel wie im Vorjahr. Pro Kopf ergibt dies ein Gehalt von über einer Million Franken.”
_surprisedpickachu_
About time
This is a potent reminder to all to have no allegiance to management. They don’t give a shit about you.
When you work there, you know the game and how it’s played.
Fool me once, shame on you
Fool me twice, shame on me
BTW, it’s 2023.