CS group head just sent us email to "come in lightly yet prepared tomorrow" What does this mean?
Any thoughts? (NY office)
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which division?(capital markets,M&A,S&T)
Prepared to collect the belongings, I'd suppose. Lightly so that you don't have anything extra to carry.
This seems to be the theme. However, the idea is to not react immediately.
Just show up, follow instructions, and continue forward. At the end of the day, it is simply a job. There are others. We live in uncertain economic times, but we must keep faith and keep our heads up as we march on. Time never stops.
Nice to let people know but brutal lol
Are you an analyst?
I have to assume he’s trying to brace you for upcoming layoffs.
My group is actually looking for a senior associate/junior vp type person.
PM if you know someone looking and I can direct you to the application portal.
Why would this get MS - genuinely nice offer lol
You must be new around here :)
What actually happen on layoff day? Do ppl get called into a meeting room individually and then shown the door immediately? Do they give ppl time to say good byes?
It's pretty immediate - pack your things while they watch you and then they'll walk you out. No one wants to risk someone going out in a "blaze of glory" yelling at people or doing something messy etc
that's mad can't even chill in the lobby for a bit, just straight into the streets
Depends. During Covid, my entire department went into a room and got a meeting with HR, Management etc.
some were let go immediately, some were asked to stay on to look after deals (me, for a few months)
Sounds like possibly layoffs. I don't know why a Group Head would think sending this out on a Sunday afternoon would make sense. I can bet many of the people who got this email will have trouble sleeping tonight. May just be me but I would rather not know until it actually happens in person. Someone close to me has dealt with a few Wall Street (one that was sort of expected due to performance issues and from my understanding, it's a relatively quick process).
What group?
Nyc mega layoff wave tomorrow, presumably 20%-35%
source?
CS only or others as well?
Is the layoff just CS or UBS side too? Technically are one firm so would assume both sides but probably heavier in the legacy CS teams
That’s all she wrote
“She”? So C&R then
Murder she wrote.
Only VPs and above can relate.
Hearing layoffs happening tomorrow. Good luck everyone (serious)
Presumably bonuses won't clear tomorrow for those who aren't getting laid off as ANLs
What happened?
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