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Circulating Lists: It started with a massive UBS downsizing

Circulating Lists: It started with a massive UBS downsizing

30 years of UBS, now RAV. This is the judgment of an affected person these days.

Don’t stay alone. And according to one source, the so-called RIF Lists have been making their rounds recently.

“Valid Discounts” is the term written. The names of those employees who are no longer needed by the new UBS end up in the tables.

There are probably thousands dumped as excess in the Swiss units of the Helvetian Superbank alone. The exact number will be known on August 31.

Subzero working atmosphere (IP)

The initial example shows that officials are not anxious when it comes to their actions. People over 50 years of age who have worked with the company for a long time do not have any additional protection.

It is also not easy for captured CS people.

Conversely, in the back office, Sergio Ermotti and his executive board members could use the historic takeover to cut more jobs than they previously thought appropriate.

The funds for such a radical deconstruction of jobs, which are seen as a slim future because of technology, are available.

By buying CS for 3 billion, UBS makes a one-time profit of 30 billion or more.

The company can use the private profit for complex integration of computer science and job reduction. The new UBS bank could cut 30,000 jobs worldwide.

A splash shot with RIF lists is a signal for those affected.

With notice periods of up to 12 months, they are compensated handsomely for injustice compared to other Swiss employees.

But at the same time, an uncertain future opens before them. Back-office jobs in Swiss banks can hardly be filled in large numbers.

In addition to automation, relocation to low-cost countries plays a central role. CS and UBS have been operating business centers in Eastern Europe, India and the United States for a long time.

Deep job cuts can hit people behind the front especially hard. These are located at the CS at the Uetlihof processing center and at UBS at Zurich-Altstetten and at the Europaallee near the main train station.

The UBS management wants to deport Uetlihof to the city of Zurich as soon as possible. The bank wants to save on fixed rent by 2037 in this way.

State, he took.