CS Shortens Internships to 7 Weeks

The only way you'll get an FT offer is if your MD goes across to UBS and literally holds them hostage to have you as part of a sick package deal. In all honesty, what are the chances of this happening?

Some advice - be grateful that the internship is still happening because emailing incoming interns to reassure them about FT offers is dead last on the to-do list for HR or bankers who have no idea about their own fate. 

Here is some advice, make the most of the summer : 

• Take advantage of the CS name on your resume and the sympathy that may result from being in this position at the start of your career.
•  Start networking your asses off RIGHT NOW, and reach out to every banker who will listen, especially ex-CS.
• Maintain a positive attitude, show up, and demonstrate an interest in the job during your internship. Be the first in the office, and the last one out. Take responsibility, learn about the job. If you screw it up, no one cares because CS will soon not exist. There are no stakes, just upside. 
• It's easy to be demotivated, but work hard and demonstrate that you are willing to put in the hours and be professional regardless of the circumstances - because adversity is where character is revealed.
• If you're lucky, someone may notice your work, professionalism, and pleasant attitude and put in a good word for you elsewhere. You may meet this person at CS, at a bar on a Friday night or anywhere really. Bottomline, be out there, be open and kick butt. 

At the end of the day, you'll have a nice summer where you'll be paid for 10 weeks for 7 weeks of your time. Rejoice in the reality that you are now the highest paid interns on the street, that you have a three-week head start on networking and three weeks less rent. By August, you will also have a BB on your resume and hopefully enough leads to start looking for new opportunities. It's not the end of the world, it's just the beginning.