actually, while not in banking or trading, there were layoffs today in BSC's subprime group, Encore

from what I'm hearing/have read, banks likely won't shutdown because as an analyst you're cheap and they need to have SOME number of incoming analysts since an analyst's lifespan is only 2-3 years, otherwise they'll have an empty class which throws things off. unfortunately that number will likely get smaller...

 

Firm will take less percentange of summers than previous years,associates hit hardest. S&T hit harder than IBD.

FT recruiting will be scaled back quite a bit. Summer 2008 intern numbers-who knows yet. Target is possible same number as this year.

 
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