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UBS Layoffs, Other firms too?

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May 2, 2009 1:02 pm
fritz:

[quote=today1]no but i heard that they are cutting brokers at wachovia securities starting in may.

  We just hired a guy I know from a proir firm today..His t-12 was 240K year end 2008. His t-12 through March 09 was 210K..He got a surprisingly nice check up front and some backend.  I sure dont see any broker cuts coming in the near term.  [/quote]

Some of the LOS 5+ doing < then 150k will be going. many have already had the "talk" from the manager. Plus they have reached goal for trainees for the year. No more until Nov09 unless there are some LOS<>2-3 doing 150K. Then they do a quick trainee program on them.