What is happening to Barclays?
Came across some articles discussing an imminent large-scale layoff and internal restructuring due to poor performances? Does anyone have more insights (especially CIB)?
Based on the most helpful WSO content, it seems that Barclays has indeed been experiencing some layoffs. The layoffs have been reported at the analyst level in multiple groups. There's also been a discussion about layoffs across various product and coverage groups, including FIG HC Tech ECM LevFin, and these layoffs have been seen at all levels, from A1 up to Director.
However, it's also worth noting that there's been some speculation about these layoffs being due to internal administrative or compliance issues, rather than a reflection of the bank's overall performance.
As for the severance package, it's been mentioned that it includes 3 months plus 1 month for each year you've been an employee at Barclays.
Remember, the finance world can be a jungle, and sometimes, even the big monkeys have to swing from vine to vine. Keep your chin up and your skills sharp!
Sources: How bad are things going to get?, Barclays IB layoffs this week, What the fuck is going on at Barclays, Barclays layoffs
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