Barclays firing?
Friend told me they got fired and junior positions in IBD are being cut? Curious if anyone has any intel on this
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Barclays hired McKinsey few weeks ago to identify cost-cutting in their IB division; you can do the math on this. All I am going to say is they certainly aren't firing seniors, so there can only really be so many areas to cut costs.
I love how companies hire MBB to tell them how to cut costs and the answer is always reduce headcount like no shit
Yes, extremely worrying time to be working at Barclays. The firm has turned into a shit show, especially the tech team. The tech team has lost like half the seniors, and not all have been replaced. The bright side is: tech culture is great, and you can still exit (group matters less than this forum might imply. Unless you are in a capital markets group, from my experience, the gap between "top" coverage groups like HC and PU&I and the rest, like tech, is not very high in terms of HH outreach/opportunities.
This is why I had no interest in consulting. Reduce costs and increase revenue...genius! All maintained by a $250-500k slide deck where there is zero throughput expected.
An intel from friends at Barclays (IBD, Lon): deal flow is a bit poor and stalling, juniors can hang around pointlessly in the very middle of a day.
It wouldn't be a surprise to see cuts in the following weeks. Barclays 🤝 a Swiss Bank whose name I don't recall
To preempt any remarks: there are selected groups with a decent deal flow indeed, I'm pointing out a general trends across IBD
Anybody know what groups/offices have been affected?
Don’t worry UBS will hire them all
Please seek mental health support for this obsession with your former employer.
what does this mean for UBS?
People inflow
Didn't they just cut a month ago?
Apparently all the male A1s were let go while female A1s were offered relocation to NYC or London. Bunch of losers always discriminating against men.
All the bottom buckets are excited to get laid off cause they will get a big guarantee to join UBS and take a two year vacation
Maybe you got laid and replaced by Barclays people because you are such a mega loser.
Bottom buckets at Barclays turn into Top buckets at UBS.
Not sure why…
No secret on the street that bunch of ex-UBS/CS people across all levels were let go from 2023-present and replaced with Barclays people.
This thread is not even about UBS. This entire forum is just all about UBS these days. Do you guys truly have no life after getting laid off? It's very clear you all got laid off because of how often you post. Please go do something else other than hating on a bunch of people who just got laid off. Have some sympathy, similar to what I am sure you received after your layoff.
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