Lazard layoffs
Has anyone heard about this?
Heard it was big on LatAm (all offices except Brazil and Mexico) and Canada
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Apparently they are shutting down the Canada office?
The other thread says all but AM
Were there IB layoffs in NY?
Bump
Apparently they downsized their advisory team in Toronto - Rumor's are some guys went to US offices. Pretty short stint in the Canadian IB market if you ask me, think they were around since 2016. Don't think they had great deal flow.
It looks more serious now
What do you mean?
Plans to slash 10% of its global workforce this year confirmed by an email sent few days ago
bye bye Houston 👋
Does Lazard houston still suck? People on WSO have been hyping it up recently as mid-tier.
Management took a bet on Houston and lost. They overhired and haven’t done anything meaningful, so people will lose their jobs due to downsizing.
Not looking good at Lazard. They posted a Gaap loss and cutting 10% of HC through the year.
seems they were looking at layoffs since January but high professionals services expenses coupled with high travel expenses and tech costs did it for them. Closing Canada and Latam.
wondering if they will implement some AI…. They we’re building Lazard labs last year.
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