RBC IB Layoffs??
Heard about layoffs in NY office, can anyone confirm?
Anyone know if there are more rounds to come potentially????
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How many were let go? What level?
Following, doesn't seem to be bank wide
Yes, layoffs across junior level
Can you expand a bit? They are still hiring. Were FIG and Power hit? Thank you so much
Getting laid off from RBC FIG is a blessing
RBC is still a BB after this right?
No. Never.
And neither is BMO buddy
DEI Beckies remain untouched. Poor hardworking male juniors canned as usual.
what groups?
This is why they’ll always be a joke lol
We lost 2 juniors on the PU team. Disgusting to say the least when we have female A&A who barely pull their weight. Canadian banks are woke sh*tholes.
Very true. Not limited to PU either.
Avoid this shitty bank
Haha IYKYK
Which MD
First years or second?
…
This is a trend at RBC
was this toronto or calgary office? any A1s affected?
Can anybody elaborate the scale and reason? Are associates affected too?
Heard real estate was affected as well.
Analysts or Associates
Both
Is it bc they don’t have deals?
Yes. I hope they land somewhere soon. Today, I called out a female junior who I hear was gossiping that these kids were let go due to performance. I had this urge to tell her that she is the one who should been laid off based on performance but then our MD can’t afford to antagonize HR and Senior Execs. DEI saved her and other Beckies on the team.
Are you saying the gossiping was from RE and PUI or another group that wasn’t affected?
Genuinely surprised because RBC PU&I is a good team. Are other teams affected other than PU&I and RE?
This is unfortunately very true.
I’ve noticed that RBC shields underperformers and pushes out good, hardworking people.
Politics really matters at RBC.
Wouldn’t advise my worst enemy to work at that firm.
1 person 5 accounts with anti-DEI rant, take your pills man
RBC just reported record Q1 making these last minute layoffs unethical. Issue is these layoffs have been normalized and Group Heads increasing utilize them to mask subpar performance of the business unit.
Heard layoffs affected the energy team too
Which offices
NYC, Toronto, Calgary
Crazy how they fire / lay off Americans while protecting the H1Bs. What is wrong with this company??
Tf are u talking about they laid off H1bs
Not a single female junior was laid off
It’s so ducking over
Apparently real estate, PU&I, energy were affected
LevFin as well I think which is wild given they drive the majority of business for the firm...
Absolutely makes no sense unless the goal was to artificially inflate $ per headcount for capital markets.
Tbh it is disgusting and utterly shameless of senior bankers. Instead of focusing on closing deals they use these dirty tricks to save their skin. The only deserving layoffs are those targeting MDs. It is their job to bring in deals and close them. If they can’t, then heads must roll. Getting rid of juniors, hurting their livelihoods while having a couple of millions stashed in the bank accounts is hypocritical to say the least.
Del
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