Are private banks less prone to layoffs?
Are banks that aren’t publicly traded less prone to layoffs? Just curious. Places like CVP, Baird, Blair, Rothschild (60% private), Lincoln, etc…
From what I’ve heard, private banks tend to have a tad more leeway since they’re not beholden to shareholders on a quarterly basis so can make some sacrifices in the near term that public banks can’t. Is that really the case, or do the partners of those mentioned banks just act the same as any other shareholder?
Depends on the banks obviously, but generally would say you’re right that private banks can certainly stomach a down quarter more so than public and are less likely to lay off in bad times. It’s way easier when you have 100-200 partners to convince everyone to suck up a bad year and not cut costs at all so you’re better positioned for the long run vs trying to do that in the public markets
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