Bloodshed: What you guys hearing and seeing?
hey guys,
past two days ive been reading alot of headlines about coming wall street layoffs. they mostly say impact will be back office or in equities. any details you guys are hearing specifically regarding research at your firms? i hear ms isnt doing great, but not sure of layoff plans. not too familiar with Citi, but was told by friend who works there that they have no plans for research layoffs right now. goldman not hearing much. any other thoughts? thanks. research specific insight please...
MS is on a hiring freeze, no info on layoffs (though that is the logical next step).
You sure about the hiring freeze? I know people that just got hired there and a few more interviewing
That may be for positions that were open before the freeze started, or filling up a few positions here and there where they've already setup interviews. I've got it on good authority that there is a hiring freeze and that most big banks are conducting layoffs rather than hiring.
UBS is on hiring freeze as well and I read that 5000 will be gone after 26th July.
I've heard that the layoffs talk at UBS is just a cover-up for the mass exodus.
commissions are down across the street. equities is suffering. at my bank, sales is getting laid off, and new guys are lateralling in. it affects research as well. however, we(not a BB) still have net increase in headcount; bottom 20% are cut out and replaced
any insight on citi or GS research? thinking about pursuing positions at these firms. thanks
any recent thoughts? i know that MS is laying off MDs
iring
MS made offers to undergrad and MBA summer people at ER and hired during the summer. Freeze might be on more senior hires?
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