Jefferies 2nd year Analyst Layoffs

I don't really have any friends at Jefferies (and I usually don't trust Dealbreaker) but another associate here does and says it's true. Although his friends say it was all second years, not just ones with offers lined up. He actually told me about it yesterday before Dealbreaker had posted about it.

Yeah, heard about that too, supposedly all but a few of them were released...wow

If I had a job lined up for the summer, I'd gladly take it.

in these kind of market conditions and outlook everybody may get laid off... explaining the layoff is much easier than it was last year around this time even the high top performers are laid off or new VP promotes at MS/GS

But it still needs an explanation, regardless of whether it's easier or not.

But I was speaking from the perspective of the firm, rather than of the analysts. It just seems like a decision which was made that benefitted the firm very little, while potentially burdening the analysts disproportionately.

Look, I'm not naive. I know Jefferies is a small public company. Laying them off let's you lump the bonuses and remaining salaries as a one-time severance expense versus ongoing compensation, but I think that's a miserable reason to lay off a bunch of junior bankers when the actual dollar difference is minimal versus letting them finish their terms.

Seems like they're gonna build up some serious negative sentiment with regards to junior level employees. If I saw something like this happen I'd think twice about working there or suggesting someone work there.

Agree with Ghenghis that the mathematics of it certainly don't make sense this late in the year. I would add though, the analysts getting laid off just got themselves a three month paid vacation, which I'm doubting anyone is complaining about!