Lazard LND cut first years? (last year in Nov)

above_and_beyond's picture
Rank: King Kong | 1,323

Just a short one.

In another forum somebody claimed that LAZ fired some of their first year analysts in London last November. Is this true? Does somebody know about the details? I'm asking b/c I thought that boutiques like LAZ, RS, etc. are a pretty safe place to work for.

Comments (10)

Sep 23, 2012

no one is safe in finance

Sep 23, 2012

Have you heard anything about the elites laying off anyone in the states, or is it just a Euro thing?

Sep 23, 2012

What I heard only applies for London.

However, like I said, I don't know if it is true or if somebody was just bullshitting around. The reason why I'm asking this question is because I haven't heard of any major layoff at elite boutiques so far. Hence I would like to confirm here, if it is true or not..

Sep 23, 2012

I can only speak for the US, but if they did, I doubt that it was related to headcount. They're hiring fairly aggressively.

London may be another story. Europe is facing continued dark times. Doesn't make sense to have more bankers in the pipeline.

Sep 23, 2012

true - people were cut but always keep in mind the classize is very small hence 50% easily means 3-5 people at a place like this. I know of 2 analysts being laid of plus 1 associate

Sep 23, 2012

i can confirm that laz fired c. 30% of first year analysts 2 months in last year.

i also wouldnt call laz an elite boutique, the american elite boutiques are a bit meh in europe (compared to their us glory anyway), whilst laz and rs are powerhouses.

Sep 23, 2012

Ok thanks for the confirmation, so it's not just bullshit he was talking about.

Do you know if RS layed off some of their analysts too?

Sep 24, 2012

I heard of Lazard and I heard of 2 other firms that they fired 2011 1st yrs within a couple of months in London. LDN right now is not a safe place to be, Deutsche, UBS, BAML, CS, Barclays, Nomura, RBS, Daiwa are cutting, many others have a hiring freeze. Its a nightmare for graduates.

Sep 24, 2012

Are they seeking to replace them with new hires, or is this going to hurt SA recruiting?

Sep 24, 2012
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