IB Headcount Cuts - NY
Does anyone foresee headcount cuts across NY groups in IB considering how much the banks have expanded headcount across the past year? ECM deal flow is dead and likely will continue to be depressed, and M&A deal flow is also down (although still comparable to pre-2021 levels), so I don't see how banks can justify keeping their expanded headcounts they hired to deal with 2021's record deal flow.
Unfortunately no real input but in reality no one knows shit about fuck and anyone who claims to know is just bsing.
Case in point during early COVID (early 2020) people thought the pandemic may result in layoffs/recession and yet after the initial 2-3 months of COVID the markets rebounded thanks to the fed/stimulus (not arguing on the economic merits) and the S&P returned 27% in 2021 with M&A/ECM activity seeing near record levels.
Same concept applies in this environment. While the economy looks rather fragile (inflation, Ukraine/russia conflict) and seems that M&A / IPO activity (particularly the later) will be dead you just never know what can happen H2'22
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