Layoffs Watch '07

Posted by Bess Levin, Sep 27, 2007, 12:52pm

The rumor about Syndicated Leveraged Finance analysts at JPMorgan, currently in training, being rounded up and told “there will be people leaving this group” has been given not necessarily legs but perhaps (very small) feet. While out for sushi last evening, our dinner companion received an email that read:

I won’t send this to her directly but since I know you’re out to dinner with BL, feel free to pass along that I’ve heard the same rumor about the SLF guys. Good, I say, less JPM dicks at Snafu when I get my drink on at five. Don’t put my name on that. Describe me only as being “in the know” and “an employee of Barclays.”

And another, less crazy tipster writes today:

Confirmed JPM analysts rumor, though I’ve heard the senior guys are also planning on cutting non-first year analysts.

Want to get something off your chest pertaining to Jamie Dimon's toy soldiers but feeling similarly gripped by paranoia? Shake it off and let us know.

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Posted in: JPMorganChase, Layoffs, Rumors

Comments

Posted by AJ, Sep 27, 2007 12:59PM

Bess, what's it take to be your dinner companion?

Posted by KEITH KEITH, Sep 27, 2007 1:08PM

KEITH KEITH KEITH

Posted by , Sep 27, 2007 1:43PM

barclays boy sounds bitter

Posted by wtf, Sep 27, 2007 2:06PM

so you're dating someone from barclays?

Posted by , Sep 27, 2007 2:56PM

barclays lev fin is full of rejects from all other shops

Posted by probably gs prop trader, harlot, Sep 27, 2007 2:58PM

she is not dating someone from barclays. (but is maybe dating someone who's friends with someone from barclays?)

Posted by Dave Chappelle, Sep 27, 2007 3:27PM

JP Morgan dropped a duece on their bank and finance credit trader.

Tip of the iceberg...

Posted by Anonymous, Sep 27, 2007 4:00PM

Any viable updates???

Posted by , Sep 28, 2007 9:22AM

I work in JPM SLF. Last Monday9/24, goup head informed us that layoffs are coming. This will affect all ranks from MDs to analysts. Number and names will be decided within the next few weeks, although rumor is that it could begin as early as today. I've also heard another rumor that 10/18 is doomsday.

Posted by , Sep 28, 2007 9:26AM

I should also add that the RUMOR around here is that this will be a 25-30% headcount reduction.

Posted by AnonymouS, Sep 28, 2007 9:52AM

hope we can all look back at these times yrs from now and laugh about it. hope you all make it out ok... the mkt has it's rides.

i think if you make it until NOV - you are find for the rest of year-end... please correct me if otherwise.

Posted by Anonymous2, Sep 28, 2007 6:24PM

Regarding the bitter Barclay's banker who complains about JPM dicks being at Snafu... I'm not surprised that a Barclay's "banker" is able to get out at 5pm to drink every night, when was the last time they were the lead on a real deal? I understand the bitterness that must build up being a permanent co-manager...

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