Deal flow is bleak right now with multiple clients putting mandates on hold. Moreover, equity markets are slow. Unsure how teams can continue to remain middle-heavy. Heard CIBC had some cuts recently.
Are we expecting industry wide layoffs this summer? Thoughts are welcome.
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10 year bull market when :((
Thanks, Carney!
Left Lane Associates is hiring like crazy, Punjabi trucking company roll-up mandates are off the charts rn
This is huge for the gas station next door.
Any of the global cutting?
There have been cuts, but they have been more so on the senior level. So far haven’t heard anything at the analyst level. From my experience analyst and associate level cuts happen with redundancy and performance or if the group as a whole isn’t closing deals.
Resource centric teams will take a hit
Do you mean specifically O&G? mining m&a is not slow at all
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O&G M&A also very not slow.
Any other banks make cuts?
Likely before Q4 results
Heard Scotia and TD will be under the hammer
from?
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Pretty concerning audit when it comes to DEI rot at TD. DEI goals set by the board are unrealistic and amount to favouritism. This will only aggravate incompetency and low productivity.
- Increase representation of women at VP+ in Canada to 45% by 2025
- Increase black / indigenous representation at VP+ in North America to 25% by 2025
If you are a straight male (White, Arab, Asian, Brown), these goals are bad news as MDs by hook or by crook will try to meet them to save their jobs which means inevitably targeting you guys in any future layoffs. 20% of their annual performance is linked to broader DEI metrics.
Just imagine how much the system is being rigged to favor women. For instance, you have 3 women in A&A class of 10, fighting for 2 VP spots while 7 men are competing for another 2 spots. The usual rebuttal will be “but but my grandma was discriminated against in 1820”.
Link:https://www.td.com/content/dam/tdcom/canada/about-td/pdf/esg/2023-td-racial-equity-assessment-report-en.pdf
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