What the fuck is going on at Barclays
Title says it all, if you know you know. If you know someone affected give them a pat on the back and buy them dinner.
Mod Note: from the top comment below: "Just wanted to provide additional color on the situation. HR reached out to interns this morning (NYC Office) clarifying whether or not they are cleared to work (hinges on whether their I9 verification cleared or not). It is NOT a mass layoff of interns nor does it hint towards a lack of full time offers."
Seriously, they have done such a terrible job!
Hi-jacking the top comment to provide an update: - Was purely a mistake because our HR outsourced onboarding documents to a 3rd party law firm and there were mistakes on the I-9 documents - Nobody's offer status is impacted; issue should be resolved in next few days - Interns will be made whole on pay for the impacted days that they are temporarily suspended
huge layoffs
Just not true
Just jokes man, how's the wife?
Fill me in, what are you talking about?
can’t speak for the full-timers, but a lot of interns are suspended without pay, for which HR had a BS explanation
I'm in a regional office but hadn't heard of this, and I'm a staffer so there was not even an HR announcement or an update from our group about this. Pretty surprising to be honest.
Were the suspensions performance or conduct related? What was the reason given?? I'm emailing HR tomorrow but would like to know more before diving in.
I am fairly confused here. The top and bottom halves of this thread seem to be talking about different things. From what I can gather, there are two possible and separate issues:
1) Layoffs for full-time 2) Interns suspended (I know this is true)
1 is false, 2 is true for a small portion of interns. Very disappointing, but we are all working to resolve this.
Hope someone can clarify, seems pretty strange to get rid of interns and can’t really see the logic in it — low salary, going to be out in a few weeks anyways, and it would be absolutely terrible PR for Barclays as well.
Good times remembering how everyone was shitting on DB a for cutting intern summer pay. At least they were upfront and honest about it.
To be fair, everything in this thread is unsubstantiated and hearsay. Doesn't make sense. I would have thought we would wait to lay people off until Sept so would be very strange indeed.
I don't think anyone's being laid off, someone just dropped a ball p hard
Shitty thread then with no info and lots of rumors.
relax bro you're tweaking over your firm's rep
Yeah, my firm's rep is pretty fucking important to me, especially when technical problems are conflated with mass layoffs. My firm puts food on my family's table and pays for my parents' care. Forgive me for caring, Intern in IB-M&A.
lol watch this thread lead nowhere when all the interns who are hyperventilating rn realize its just some internal admin / compliance issue. barclays is doing just fine - what reason do they have to axe divisions?
I'll try to clear it up: this is isn't like a mass layoff of interns or anything remotely close from what I can tell. Just HR messing up some employment verification stuff is what it looks like, and that's causing some weird issues.
BARCLAYS NOT BB
Just wanted to provide additional color on the situation. HR reached out to interns this morning (NYC Office) clarifying whether or not they are cleared to work (hinges on whether their I9 verification cleared or not). It is NOT a mass layoff of interns nor does it hint towards a lack of full time offers.
Who the hell knows. These threads are garbage.
Whatever is going on will surface in time and you can make your own judgements based on factual reality. Speculating and knowing some cobbled together POV 10 seconds early provides zero value. Waste of your time.
Unrelated, but based in a few comments: Buckle the F up. Regardless of what is going on at Barclays, the wall street ship is about to start getting real f’n rocky come fall time. FT offer rates are going to blow, FT layoffs/shit bonuses/cost cutting across the street is going to be harsh and it will start hitting hyper drive here in the next few months. Worse, it is going to be scattered and unpredictable. Let’s grow up and start living in reality. We signed up for a competitive industry with high reward and high risk. Time to feel the risk for a year or two and hope we all shake out on the other side. Quit thinking reputation and recruiting and blah blah blah all matter. It doesn’t. The sky seems to find another way to fall out every other day and interns are the least of a banks worry right now.
Sincerely, Your jaded cynical realist tired of people living in fantasy land
You sound like a real POS. Weren't you the one who made the statement below? So intern careers don't matter but food for YOUR family does? Hope you're part of the fat that gets cut come fall.
"Yeah, my firm's rep is pretty fucking important to me, especially when technical problems are conflated with mass layoffs. My firm puts food on my family's table and pays for my parents' care. Forgive me for caring, Intern in IB-M&A."
No that's me, the certified VP, not the certified 2nd year Analyst
No layoffs. 0.
There is an issue with summer interns our global head of banking is addressing.
My I-9 went through this morning- still getting paid in full and never stopped working. WSO just loves to freak out.