Barclays Layoffs - Analysts?
Seeking information for a friend. She's a 1st year in a coverage group, and she's scared about her performance. She says she's up the learning curve, but she is middle/bottom bucket as she was a math major in college. She was thinking about switching groups. She wanted to know if Barclays has historically laid off analysts (1st year/2nd years) due to mediocre performance or if you really had to be bottom bottom bucket (ignoring emails, late on calls, sleeping while others working, etc). If anyone can advise, I know she would appreciate it. Thank you!
Not at Barclays but I believe they made reductions end of last year because of clear performance based. I don't think this is their standard operations like GS. In other words, you really need to have messed up.
Sounds like you're being harsh on yourself, but think this is group dependent. If you maintain a good attitude / are a team player and responsive, then you shouldn't have much to worry about. Unless you keep making major mistakes or have very sloppy work.
Her question is more about firm policy. Like GS just laid off solid performers. MS has a policy where they don't cut analysts unless you bring down the firm. Does Barclays have something like that in place?
they literally just laid off tons of people ranging from A2 to MD less than 2 months ago. i'm surprised she's asking if she works there because everyone knows about it, including people who don't work there. has she just not come to the office in 3 months? lol
Is this accurate for MS? If so what other firms have this ?
Has anyone heard if Barclays will layoff its employees before bonuses get paid out?
They're certainly not going to wait until after bonuses to lay people off
My $0.02 is that Barclays will do another round of layoffs ahead of bonuses. They're never the leader of the pack with anything controversial, so now that the GS bloodbath is official, I have a suspicion they will feel empowered to do a second round of cuts.
Not exactly sure why I am getting hit with MS for expressing that suspicion. I work here, and that's my read of the room.
It's impossible to rule out laying off analysts at this point, and certainly you don't need to be truly bottom of the barrel to be laid off at BBs at the moment... even top performers are getting cut. Banks are overstaffed right now, they will look to cut costs wherever they can. Places that don't historically cut juniors may have significantly overhired in 2021 and look to cut people in the coming months. Knowing she's middle or bottom bucket does not help
Switching groups will be very difficult right now and if she wants to do internal she'd need to have a year of tenure first. If she is very worried she should start recruiting elsewhere as that can be a very long and slow process
i'm so confused about the responses to this thread. Barclays just did a round of layoffs from A2 to MD less than 2 months ago and it was all over this forum. Was this just not as big of news as I originally interpreted?
People blew it out of the water. Mostly zombie hires who were cruising. No real deep cuts into the excess or protein. GS just did a hardcore protein cut. Barclays has yet to do that.
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