Some of the doublespeak in large financial corporations is astonishing.
> UBS executives insist the shift is not all about costs.
“I would be wrong to sit here and say there isn’t an economic efficiency dimension,” Mr. Owen said. “In and of itself, that’s not the reason to do it. It would fail on that basis. It has to be of value to our staff and our structure in the way we operate. There has to be a value there.”
Translation: It's all about costs and making employees absolutely replacable, only we're calling it "value addition" or some such nonsense. And what the fuck is an "economic efficiency dimension"?
> UBS executives insist the shift is not all about costs. “I would be wrong to sit here and say there isn’t an economic efficiency dimension,” Mr. Owen said. “In and of itself, that’s not the reason to do it. It would fail on that basis. It has to be of value to our staff and our structure in the way we operate. There has to be a value there.”
Translation: It's all about costs and making employees absolutely replacable, only we're calling it "value addition" or some such nonsense. And what the fuck is an "economic efficiency dimension"?