Banks with rumored layoffs?
What banks have rumored or confirmed layoffs? Which have confirmed to layoff analysts. The only one I know for sure is Goldman.
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Stifel for sure. Heard from a friend that cuts were imminent at Scotiabank as well.
What? I work in Stifel and there's been 0 talk about lay offs. CEO has even mentioned that he prides on no lay offs. What's your source.
My mistake, the guy who I know was laid off formerly worked for Stifel I didn't realize he had gone to a different firm.
very reputable source i have (best friend from college) said rbc ny got hit across different groups
What groups and what levels got cut? I will be entering RBC next year as FT 2023. I wanted to know what things are looking like.
directors/associates ur fine
Very minimal - like 2 people in all of M&A for instance. That level of layoffs used to be an annual thing across all banks.
I heard RBC got hit as well.
What levels and what groups got cut?
So do A1s get hit with these things?
No
JPM wells BoFA
Wells IB had layoffs? My friends that work there haven’t heard anything.
where did you see that for BofA? Brian Moynihan publicly mentioned that we are fine with staffing levels and any reductions will be effected through natural attrition
haven’t heard jp of bofa either
CS obviously
Where have you heard specifically of coverage group layoffs?
Already happened (at least round 1): GS, RBC, and heard a small handful of folks at Jefferies
Layoffs likely coming soon (have caught wind of a few through the rumor mill): MS, DB, JPM, BofA
Every bank is making cuts though...so everyone is going to lay people off in some capacity
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