Evercore Layoffs
I am hearing rumors across my office that there will likely be layoffs early next week ahead of earnings. Curious what others are thinking / hearing.
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Which group?
Hard to imagine - my group is getting pounded. Pretty sure every analyst is up past 2am 6 nights a week
Getting pounded doesn’t mean the bank is making fees.
So true. Correlation does not imply causation.
DB would agree
What's the ratio of pitching vs execution for those kinds of hours?
Which group? Heard from a friend that things are very slow over there but not sure if capping.
I'm pounding your girlfriend's cheeks while you work on a pitch at 3 am l m a o
cap
No layoffs - 100% certain. From someone super senior.
Is a second year analyst considered “super senior”, or did you hear it from someone else?
Group head confirmed there wouldn't be any layoff (London office)
Untrue.
Quick question for the homies I work with. I don't doubt you have a good relationship with your MD, but what makes you think they would not lie to you? If I was a partner and JW told me to keep quiet about layoffs before they happen, sorry but it's JW > you.
Not one of the people who said they’ve heard something internally, but I feel like seeing new people pop up on the intranet and them sending out the ‘refer a friend’ emails for advisory positions is a fairly positive sign.
They have been pushing out underperformed since September. You just probably haven’t heard about it.
This is true but such a small number it is barely worth mentioning (hence why people haven’t really heard about it) and certainly doesn’t qualify as any sort of real “layoff.” In the vicinity of 5 people and none surprising.
To answer the original question, yes obviously if there were going to be layoffs partners would be told to keep it quiet but in that case they would simply respond to questions about layoffs evasively. To proactively tell juniors that there would be no layoffs, when they knew there in fact would be, would be kind of odd and unnecessary, but sure, I guess it is possible they are lying.
GS did it so there's no way JW is going to get one-upped by them. If the culling hasn't happened already, would imagine some activity in groups that actively hired in 1H 2022 without any deals to show for it.
Hope they work out the kinks and it goes down better than Jan 2020 - plus side is that it'll be a chill work day at 55 East on Tuesday
Pro tip if you’re about to be axed: load up the company card
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