Layoffs 2020
Is there a thread? Curious how many have been laid off, most Analysts and Assoc?
I'll start. Piper 76 ppl
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Wait, 76 IB/S&T professionals laid off at Piper in 2020? Were you one of them? If so, was there any warning?
Not sure what the post is referring too, but I know Piper had huge layoffs after buying Sandler O'Neill because it created a bunch of redundancies. Unrelated to Coronavirus, but wondering if this was a 2nd round more recently.
I don't think that's accurate. I'm also at Piper and haven't heard anything of the sort. The only layoffs I'm aware of are either back office redundancies because of a merger with Sandler O'Neill in January 2020 (not COVID related) or the downsizing of the upstream team at our Simmons Energy subsidiary, but that was only about half a dozen, maybe 10 people maximum. And they had been hemorrhaging money for years.
Heard Nomura IBD had cuts but don’t know how many.
Believe the only one I’ve heard so far has been Wells. Most of the bulge brackets publicly stated there would be no COVID-related layoffs in 2020, so I’m not expecting any splashes yet. That said, you can almost lock in more aggressive than usual belt-tightening at the end of the year. Better make sure you’re top bucket.
I don’t think Wells had any layoffs at all for associates or analysts. Just some underperforming directors. Their layoffs in the news are for the retail and commercial banking
Sounds like a round of cuts will be ramping up this quarter. Curious to see if it’s still mostly commercial/retail.
Baird cut a lot of guys this past week.
Curious what other banks
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