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For those of you at DB or Barcap - how are things looking for analysts?
With the recent job cuts announced at the above mentioned banks, is anyone on WSO over here aware whether these job cuts are affecting junior bankers too (analysts or associates) for instance, or are they being targeted at the big dogs? Thanks ladies & gents.
Layoff Watch
Well this is pretty bad. Via DB .. Over 30 IBD analysts cut at UBS in New York today. 2 days before bonus announcements… Here is the link. Apply to Top Wall St. Jobs
How do BB bank layoffs logistically work?
I'm not asking what a layoff is but how soon till you find out your in the group to get axed. Ex. Bank XYZ says they will layoff ~1000 ppl in IB . How long does it take for a person or specific group to find out they are on the chopping block? Most firms have different groupings/divisions under...
France to clamp down on layoffs
Keeping up with unemployment is a bitch, but somehow, everybody seems to have their own way of handling it. Take Iceland for instance, after letting their banks fail, they devalued the Krona, slapped on harsh capital controls, and saw their unemployment rate drop to 5.6%. Germany meanwhile slashed...
Romney "looting" example - please explain these profits
How the heck does one make millions off of investing in a company that goes bankrupt and/or gets shut down? How do the lenders get paid back, how do the numbers work? Ideally I'd like to see a model but that's obviously a bit much to ask. Another good example is when a company borrows money, pays...
Big EU bank just canned a lot of its eq derivs traders in a few locations
Won't name as i heard it through the grape vine, its not a BB but certainly large by european standards. Yikes. I say, yikes, from a prop shop thats doing ok, i couldn't give a damn about dem suits.
2011 Layoffs Recap
If there is one caricature I hate representing, it’s the Grinch. So for my own sake, I better get this out before Christmas comes around- this was an extremely rough year for Wall Street. Amid bankers having to deal hoards of protestors just to get in the door for work, cuts have been especially...
DB Cuts 1,900 Jobs - 1,500 from IB
From DealBreaker today: http://dealbreaker.com/2012/07/layoffs-watch-12-d… Is this a one time thing or just the beginning of a series of layoffs? Anyone industry veterans know how this is gonna impact SA recruiting/offer rate for next year?
A nightmare on Wall Street: more layoffs to come
Sorry guys, I hate to be the bearer of bad news but it seems that the job cuts Eddie talked about a few weeks ago won’t be ending anytime soon. In fact, things might get downright ugly. With rising costs and diminishing earnings, thousands of jobs are now at risk on Wall Street as most of the...
SO BASICALLY... Everybody all my friends from the Class of 2010 (Duke) in IBD has officially been laid off.
Seeing a friend's FB status earlier today that said something like "officially my last day at goldman. it's been a good run new york. shit happens. i'm out" has officially made him the last friend I knew from the class of 2010 who still held onto an invsetment banking job. I knew about 30+ guys who...
NSFW Episode 10: Barclays, Az Shootings, $100 Oil
PREVIOUS EPISODES: NSFW Episode 9: Bonuses, Facebook, National Debt NSFW Episode 8: The Christmas Special NSFW Episode 7: All-Nighters, Bush Tax Cuts, Crash JP Morgan NSFW Episode 6: Burnout, Bailing Out Europe, Wikileaks NSFW Episode 5: Lehman Bankruptcy, TSA, Black Friday NSFW Episode 4: Silver,...
How to find out whether they got laid off
I was a sophomore SA at a BB this past summer, and am returning there again for this coming summer. I'm trying to get in contact with a past co-worker in my group for coffee, but my emails are getting bounced back. I spoke to him just last month, so I'm not sure if he got laid off in between that...
Wells Fargo layoffs
this true that there are layoffs?
Layoffs: Last in first out - Is this true
We've all heard the LIFO theory in finance when it comes to layoffs. Last in first out. Does this really have merit? Do you know what management looks for when considering cost cutting initiatives? What's the pecking order in terms of savings - back middle front office ? I'm writing from a IB front...
Applying for those laid off in 2008?
Hi guys, I'm in a bit of a weird situation and I'm wondering how others in my position have or are dealing with it. I was hired as a S & T analyst at a BB in 2007 . I worked there for a year, and although I survived the layoffs, I had to take an extended leave of absence for some personal (family)...
RBS / Credit Suisse / Barclays Capital Layoffs
http://www.ft.com/cms/s/0/bbc05b5a-ca8b-11df-a860… Our turn...
Possible Layoffs on the Horizon?
Guys - With all the news of very down quarters, diminished deal-flows, and possible layoffs around the corner -- does anyone already working know what we should expect? For those of us joining as first-years next September... what are some ways to hedge ourselves if we get laid-off?
"Get Ready for the Fixed Income Bloodbath"
http://finance.yahoo.com/news/Get-Ready-For-The-F… "We're easily going to cut a quarter to a half of our traders and back office in fixed income. Everyone else is going to do it too," he says.
Morgan Stanley Said to Freeze Investment-Bank Hiring for 2010
http://www.bloomberg.com/news/2010-09-27/morgan-s… At least they're not having layoffs like BOA/ BAML , Barcap, CS etc...
Credit Suisse is laying off 30% of prop traders?
According to dealbreaker, Credit Suisse 's prop group lost $2 billion in 2009, and are planning on laying off 30% of the group. No idea whether it's true or not.
Schonfeld Securities Goodbye Letter to Traders
scary... http://www.businessweek.com/news/2010-07-06/schon… http://twittercounter.com/tweet/ODUxNDUzNA
What's your backup plan?
There's an article on CNN today that talks about creative things you can do when you find out you're no longer going to be gainfully employed , and aside from the bullshit stuff about "mourning" the loss of your job, and learning a new language, it did get me thinking. With the very real possibility...
And BofA joins the fun
*BANK OF AMERICA TO CUT 30,000 TO 35,000 POSITIONS let the good times roll
Wall Street Pink Slip Party
Looks like these Wall Street Pink Slip Parties are becoming a monthly event. Apparently this one had 30 recruiters and tons of cheap drinks in attendance. Did anyone go last night or hit up the first one last month? http://www.wallstreetpinkslip.com/ I'm anxious to know if I should try and make my...
Extravagant Holiday Office Parties Of Yesteryear
Given the need for banks to clench up that sphincter tighter than normal this year, most big holiday office parties have been axed. Business Sheet put together a delightful slideshow of some of the most lavish displays of corporate opulence from the past in holiday office party format:...
Sandwich Boarders Getting Hired
Congrats to Joshua Persky, the out of work banker who strapped on a sandwich board and marched around NYC handing out resumes. All your hard work has finally paid off. Persky was recently hired at Weiser LLP, an accounting firm....
LayOff List Reaches The 'C's
Although there currently exists no universal list of layoffs, it would make things a whole lot easier if there was. In my own warped imagination it appears that we have reached the 'C's on our list today with big layoffs at Credit Suisse and everyone's favorite business news network, CNBC. Please...
JP Morgan Gets Real With WaMu
The Thanksgiving holiday is over and, now it's time to get back to work. First order of business? Laying off all those WaMu employees who actually thought they would become a part of the JP Morgan Chase family . LA Times has the full story -...
Goldman's First Year I-Bankers Moved To Back Office
Oh, major burn here for first year Goldman people. Last week GS let go 3,000 employees, but now it's 'say hello to the back office ' for first years. http://clusterstock.alleyinsider.com/2008/11/goldman-sachs-gs-moving-th… Can anyone confirm this? If it happened to you would you take your chances...
How To Sue For Your Job/Bonus
Sure, Wall Street is getting a bad rap right now. AIG is cowering in fear that any modicum of spending will be perceived as another opulent bailout-wasting extravaganza. But just cuz those suckers are under the gun doesn't mean you guys should throw in the towel on your potential firings or cut...
You Might be getting canned.
There’s no question that everyone on Wall Street and elsewhere is feeling nervous about the future of their careers with the economy in the nosedive that it’s been in over the past few months. Now apparently companies are coming up with new, creative terms to use instead of “layoffs”, I...
BarLehs layoffs?
Dealbreaker is reporting layoffs. Can someone spill the specifics?
Times cuts 550 jobs - stock goes up
So, I feel bad that 550 people from the New York Times are now jobless , but it seems to have given a boost to the company’s stock price, which was up almost 2% this morning. The reason given for the cut is that sales of the newspaper have steadily been declining. Apparently people are going...
Career Advice -- Early Stumbling Blocks --> Future Ambitions
Fellow Monkeys, I've had a tumultuous start to my career. Prior to graduation at my non-target (3.8 GPA and it does have a top 25 undergraduate Business School) I was a Summer Analyst in DB 's Global Markets program 2007. However, I did not receive a full time and as the market slowly started to...
Macquarie Layoffs
Over the past few months Macquarie has pretty much massacred its 1st and 2nd year analyst classes as well as people up and down the ladder. Historically, Macquarie has made a name for itself in the infrastructure and private equity investing space. However poor performance of its assets across its...
Layoff News
Just thought it would be nice to have a thread that includes any firms and/or locations that have had layoffs recently. So if you've heard of any layoffs from MBB , other management consulting firms, econ consulting firms, etc., post them here! I know work is slowing down at most offices, but are...
Bloodbath at BofA-ML Today?
Supposedly today analysts and associates are being massacred across IBD . Anyone have any insight as to the percentage across groups?
Layoffs, Week of 2/26/09: GS, JPM, MS, BofA-- Will We Recover?
According to Dealbreaker, layoffs are planned tomorrow at Goldman, MS, and BofA with possibly JPM following suit soon. Abovethelaw has announced that Latham (V10 firm) is shedding some 70-100 associates, including FIRST YEARS (from what I understand, a big no-no for these law firms). AIG, GM, RBS ,...
Any layoffs in private equity?
"What's that? Uh...layoffs?! Don't talk about -- layoffs? You kidding me? Layoffs? I just hope we can win a game!" -Coach Mora I was curious as to whether you guys heard anything, either truth or speculation, about potential layoffs in private equity.
BlackRock Offer and Layoffs
I have a full-time Analyst offer from BlackRock , but now I'm worried since they just announced job cuts. Do you think I should be concerned about this? I also have an offer from a suisse bank which I haven't rejected. Do you think I should consider changing?
Revoked Offers
Why has there been no talk of offers potentially being revoked for people who did internships this summer who were offered (and accepted jobs) on the street. I would assume offers will be revoked. Is there any reason to believe a lot of offers will not be revoked?
Monitor cuts 20% of work force.
I just heard that management consultancy monitor cut 20% of its workforce and closed several business units. The entire LA and San Francisco offices are probably wipedin a round of "rightsizing". I assume other consultancies must be feeling the crunch as well. Anyone know more about how consulting...
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