Barclays cuts Todays
Cuts happened today at Barclays, heard markets and market groups got hit harder than coverage, anyone else have more insight?
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Based on the most helpful WSO content, it seems that Barclays has indeed been experiencing layoffs at the analyst level across multiple groups. This has been a cause for concern among many employees, especially given the fact that some believe there are many underperforming associates who have yet to be affected.
In addition, there's been a noticeable decrease in employee morale due to cost-cutting measures, such as cutting meal reimbursements for junior bankers during the pandemic. This, coupled with lower than average analyst/associate bonuses and a perceived lack of value compared to counterparts at other banks, has led to a loss of junior bankers across multiple coverage groups in the US.
As for the specific groups that have been hit harder, the WSO threads suggest that areas like Research and Sales & Trading could be affected the most due to the shift towards electronic trading and a cooling off of the equity market. This could also impact Equity Capital Markets on the investment banking side.
However, it's important to note that these are general trends and the specific impact on Barclays may vary. It's always a good idea to keep an eye on the latest discussions and updates on the WSO forums for the most accurate information.
Sources: Future of Wall Street, Thoughts on Barclays Response to Goldman survey, Barclays layoffs, GS Layoffs - The Chopping Block
Does anyone know how does bot collect its info?
Its usually vague, but this one hit some accurate points
Not sure but the cuts are not at analyst level mostly seniors
Any cuts are upsetting but I heard analysts in LevFin:(
Not confirmed tho
Does anyone know if they are done or will continue?
they're useless anyway. when i was at barclays coverage i was working on a large refinancing in which the levfin team was involved and i (the coverage analyst) had to make the cap tables. what kind of a levfin banker doesnt even make cap tables?
Scrapes from other posts and synthesizes using Gen AI. Patrick added the sources by request.
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