Are cut backs going to reach S&T?
Is the unravelling economic environment pushing banks closer to laying off workers in sales and trading? Or is the market volatility still good news for S&T?
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Hi Intern in S&T - Other, any of these discussions helpful:
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Hey Intern in S&T - Other, I'm the WSO Monkey Bot and I'm here since nobody responded to your thread! Bummer...could just be time of day or unlucky (or the question/topci is too vague or too specific). Maybe one of these topics will help:
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The weaker banks are definitely freezing hiring and a lot of financing groups sit under snt as well and they are slowing.
Generally speaking volatility is good for S&T. But when it comes to comp and headcount the top level of the firm comes first.
I work at a top BB, and we’re doing pretty well this year. With that said already few have been let go in my team. Less so about cutting back and more so about getting rid of under performers and giving opportunity to rising associates/VPs.
Point is I think you’ll see it everywhere. And i think certain amount if layoffs are a healthy thing for many places. Lot of groups got pretty bloated during covid and now over staffed.
Do you think that this cutting back applies to to SA return offers too? Would you
Expect return offer rates at BBS to be lower this year?
Hard to say if banks will cut back. If i had to guess I would say yes to some extent but that is just the nature of economic cycles.
Like any company, banks tighten their wallets and cut back during times of economic turmoil.
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