Layoffs Watch '08: Current And Upcoming Shitcannings At Credit Suisse And Morgan Stanley, Respectively

Posted by From Fox News HR Dept., Jan 24, 2008 12:13PM

Let's all hope that John Gibson soon gets a pink slip for being such an ass.

Posted by lift all the offers, Jan 24, 2008 12:19PM

I love the car crash that is Fox Business. I can't look away!

Posted by , Jan 24, 2008 12:19PM

jag: where are you? Museum of Sex?

Posted by , Jan 24, 2008 12:23PM

too glib

Posted by are you kidding?, Jan 24, 2008 12:27PM

where do they even film this crap? looks like bull & bear

Posted by Tom Cruise, Jan 24, 2008 12:28PM

Heartfelt sympathy and respect is available at the next blog over. You seem to be lost and have confused us with people who care about your feelings.

Posted by jag, Jan 24, 2008 12:30PM

12:19 - nah, something more respectable than MoS, like being a retail broker at the Smith Barney branch (kidding)

Posted by yuck, Jan 24, 2008 12:34PM

It's understandable to make light of layoffs, but ridicule is not funny.

Posted by big r, Jan 24, 2008 12:35PM

dont worry bess, im still here

Posted by Mr. Janjaweed, Jan 24, 2008 12:35PM

"modeled after the redistribution project in the Sudan"

too funny...

Posted by clueless, Jan 24, 2008 12:58PM

Third year in a row I've gotten a zero. I'm starting to feel like I'm not wanted.

Posted by , Jan 24, 2008 1:05PM

Who is this fucking Bess? Some wanna-be on Wall Street wise ass? I know the response will be, "if you don't like it, don't pull up the blog." Well here is a tip, you piss enough of us off sweetie and you won't have a blog to write on. You rely on advertizing and people pulling up your site. I don't think the rag-tag collection of day traders will keep you going without the dealer community. You want to write stuff like that, lets blast it over to everybody at CS and Bear and BOA, and a whole lot of our clients. Soon you'll be on the copy desk at Metro One.

Posted by , Jan 24, 2008 1:09PM

@ 1:05PM

hahahaha

ooOOooOOOoOoOoOhhh :)

Posted by honey, chill out dude, Jan 24, 2008 1:11PM

wow

Posted by @ anon 1:05, Jan 24, 2008 1:13PM

spoken like a true retail broker at a bucketshop, congrats on that big $60k u made this year buddy.

Posted by Terminator, Jan 24, 2008 1:13PM

ease up 1:05, its a blog ran out of an apt on Mott st. not some touchy feely P/C corporate site... and

"if you don't like it, don't pull up the blog."

Posted by AJ, Jan 24, 2008 1:17PM

Someone's a bit bitter because they join the mortgage group....

Posted by @ anon 1:05, Jan 24, 2008 1:17PM

spoken like a true retail broker at a bucketshop, congrats on that big $60k u made this year buddy.

Posted by chasing KLW, Jan 24, 2008 1:17PM

the cute hr girl ive been talking to lately just texted me saying "heads are rolling in the FID trading" group. all this 4 days before they release bonus numbers.

Posted by The Donald, Jan 24, 2008 1:17PM

Bess is a supermodel

Posted by can dealbreaker stop these douches from posting?, Jan 24, 2008 1:19PM

"Well here is a tip, you piss enough of us off sweetie and you won't have a blog to write on."

ok vin diesel, let's see your clippers.

Posted by Lowly Assistant, Jan 24, 2008 1:19PM

1:05,

Better run back to your desk in your parent's basement in Westchester. Mom's making mac & cheese so you can work while etrading.

Posted by Ah,Duh?, Jan 24, 2008 1:21PM

@Anonymous @ 1:05

whats your point? who the heck do you think reads these sites?? CS and Bear and BOA employees. and what are you going to do stop that ? send around a petition? youre delusional.

recognize this site is firstly for entertainment and secondly for information. then get a brown paper and quit hyperventilating.

Posted by @ The Donald, Jan 24, 2008 1:21PM

lets not get crazy- she does have man hands. we saw the pictures...well, not Man Hands- more like teenage boy hands

Posted by Dumb Ass, Jan 24, 2008 1:22PM

"Some wanna-be on Wall Street wise ass?"

actually dude, she doesn't give a shit about wall street, but keep telling yourself everyone wants your boiler room job!

Posted by @1:17, Jan 24, 2008 1:23PM

don't be upset because you are a bitchass little day trader and could never make it on the Street. Hurry I think Cramer is coming on soon!!

Posted by Anal_yst, Jan 24, 2008 1:24PM

@ 1:05

Nevermind, I can't dignify that drivel with a response, no matter how tempting

@jag

I used to live on Mad Sq, wtf is there besides the Toy building and retail space?

Posted by , Jan 24, 2008 1:24PM

they looked like 5 year old's hands actually, teenage boy's hands are not that small/soft.

Posted by anon anon anon, Jan 24, 2008 1:28PM

when something bad happens to you, it's the other guys fault. But you may be better off some place else....eventually.

Posted by Anal_yst, Jan 24, 2008 1:28PM

Oh yea, and the Museum of Sex (although i actually never made it, KLW you wanna join me on our 1st date there?)

Posted by formerly unemployed, Jan 24, 2008 1:31PM

keep it up Bess. you covered my old fund going out of business with a sense of humor too. i appreciated it then.

Posted by anon, Jan 24, 2008 1:34PM

"lets not get crazy- she does have man hands. we saw the pictures"

What pictures??

Posted by anon, Jan 24, 2008 1:36PM

"lets not get crazy- she does have man hands. we saw the pictures"

What pictures??

Posted by , Jan 24, 2008 1:40PM

the pics of bess i saw (hands and the one w/ the shades) were smoking...thinking about those lips right now.

Posted by The Posse, Jan 24, 2008 1:40PM

OK, the 1:05 is offically blasted back to his toilet

Posted by Eli, Jan 24, 2008 1:47PM

Tough Guy -You think your "clients" are going to be offfended by this?? Doubt it. The originators are dead, and the investors are working on pending litigation. Try throwing your weight around where you can really have an impact..... a BAC branch.

Posted by , Jan 24, 2008 1:59PM

*LEHMAN CUTS 140 TRADERS IN FIXED-INCOME UNIT, PERSON SAYS
*LEHMAN CUTS ADD TO 3,750 PREVIOUSLY ANNOUNCED :LEH US

Posted by KLW, Jan 24, 2008 2:01PM

For the record, the only person who has ever offered to take me on a date to MoS was hitting on me at Babeland in Soho. I'm still in therapy for the experience, so we're going to need an alternate plan.

Posted by actually interested, Jan 24, 2008 2:04PM

what's the deal with bess's roommate being such a slut?

Posted by WDE, Jan 24, 2008 2:05PM

Anon @ 1:05,

You simply don't understand the metrics behind this blog. A bit disgruntled over a recent layoff? Likely. However, most of the people here, laid off or not, who read this blog recognize the absurdity of the mass layoffs right now, and I for one enjoy the associated humor and sarcasm. Come to think of it, my entire group, many of which were laid off, still find this blog histerical. Virtually everyone I've ever talked to who works on Wall Street in some capacity, and who read this, love it. So, I say to you, go back to packing your box full of prospectus' of unsold CMBS, deal toys for transactions in which your only interaction was running spell check, and leave us all to enjoy the comedy and not your tragedy.

Posted by , Jan 24, 2008 2:06PM

@1:24 keep dreaming you deluded pedophile

Posted by , Jan 24, 2008 2:08PM

if fantasizing about bess makes me a pedophile the...call me a pedophile

Posted by Anonymeemous, Jan 24, 2008 2:15PM

@KLW please elaborate

Posted by KLW, Jan 24, 2008 2:15PM

@ actually interested:

I don't know if you know this, but sometimes, women make jokes. Occasionally, those of us without sticks up our asses even make jokes about ourselves!

Posted by , Jan 24, 2008 2:29PM

@2:05 Deal toys for which your only interaction was running spell check..... Excellent. You should copywright that one.

Posted by , Jan 24, 2008 2:32PM

@1:28 you forgot Fidelity, corner of 23/5, in the toy building

Posted by , Jan 24, 2008 2:52PM

god reads this blog, and loves it.

Posted by rahodeb, Jan 24, 2008 2:54PM

god reads this blog, and thinks bess should keep doing just as she's doing. He will make sure she gets plenty of "advertizers".

Posted by notreallyreligious, Jan 24, 2008 3:07PM

@rahodeb

appreciate the joke, but lets leave The Almighty One out of this. There are enough serious issues out there to occupy His time.

Posted by Anal_yst, Jan 24, 2008 3:15PM

@ KLW

Ok so no popping my MoS cherry, so-to-speak.

Slightly less creepy place that doesn't trigger tramautic memories, hmmm does such a place exist?

Posted by ZZ, Jan 24, 2008 3:16PM

You monkeys...ever hear of the Flatiron building

Posted by , Jan 24, 2008 3:19PM

yeah... where does he work, Jo Malone, Sprint or Origins? The rest of the place is ad agencies.

Posted by geezer, Jan 24, 2008 3:25PM

http://www.youtube.com/watch?v=rJB0CzlzSwY

Posted by , Jan 24, 2008 3:25PM

there's an engineering firm that designs navy battleships in the flatiron. Just an FYI

Posted by chris, Jan 24, 2008 3:34PM

designs navy battleshps? Business must have been kinda slow for the last 60 years.

Posted by chris, Jan 24, 2008 3:40PM

designs navy battleships? Business must have been kinda slow for the last 60 years.

Posted by Anal_yst, Jan 24, 2008 4:15PM

@ KLW

Ok so no popping my MoS cherry, so-to-speak.

Slightly less creepy place that doesn't trigger tramautic memories, hmmm does such a place exist?

Posted by just me, Jan 24, 2008 5:14PM

who cares? more dopey bank traders sent back to iowa.

Posted by Mr. Engineer, Jan 24, 2008 5:54PM

@ chris

Eh, I have no idea. But every time a ship needs to get built (there are multiple classes of ships), there has to be engineers to design them.

Posted by anonymous, Jan 24, 2008 7:47PM

so were there analyst layoffs at csfb today?

Posted by John Mack, Jan 24, 2008 9:15PM

Credit Suisse Cuts

Credit Suisse, the second-biggest Swiss bank, said today it's cutting 500 investment banking jobs, mostly in equities and fixed-income units. The cuts are ``due to market conditions and projected staffing levels required to meet client needs,'' according to the statement e-mailed today by Bruce Corwin, a spokesman in New York.

Posted by Grim reaper, Jan 24, 2008 9:17PM

The following is a table of jobs eliminated by the biggest banks and securities firms due to the collapse of the subprime mortgage market.

Firm Number of Jobs Cut

Citigroup 4,200

Lehman Brothers 3,890

Bank of America 3,650

Washington Mutual 2,600

Morgan Stanley 1,900

HSBC 1,650

Bear Stearns 1,550

UBS 1,500

Merrill Lynch 1,000

National City 900

RBC 500

Wells Fargo 500

Wachovia 443

Deutsche Bank 370

Credit Suisse 820

JPMorgan Chase 100
_____
Total 25,573

Posted by Blue Horseshoe, Jan 24, 2008 9:46PM

People probably know and might not care because it's Research, but BofA canned over 20 analysts yesterday, over the entire spectrum from VPs to MDs. Apparently one of them made VP on Friday, and was canned on Wednesday. I was told his 2007 bonus was $4,000. Severance was $10k plus two weeks severance for every year of service.

Posted by FRAT STUD, Jan 24, 2008 10:30PM

Guys at my high school got laid off all the time. It was no big deal.

Posted by anonymous, Jan 25, 2008 9:28AM

the news reports have it wrong....it wasn't just 25% of analyts. more like half, and maybe more layoffs today.

Posted by , Jan 25, 2008 9:44AM

@9:46 "People might not care because its Research.." That attitude is maybe why there's been a bloodbath there. Maybe a general assessment that in a time of reduced revenues firms are better served by allocating far less resources to that area.

Posted by $, Jan 25, 2008 5:54PM

What's avg Net Worth by title (Assc., VP, Dir, MD) in Bulge Bracket (range for seniority)?

Pls post based on your #, or direct knowledge not hopes/dreams or delusions/bitterness.

This is one # that everyone can crunch.

Posted by , Jan 25, 2008 10:55PM

Did Merill Lynch already layoff 1,000 workers or they are going too?

Posted by Rob, Jan 31, 2008 4:07PM

A Class Action lawsuit against Morgan Stanley

A Class Action lawsuit against Morgan Stanley is in the works. Charges of Age Discrimination have been flied with the EEOC on behalf of those fired in August 2005. Contact Hadley Perkins Roeltgen at Kohn, Swift & Graf,PC for more information. 215-238-1700 If you were fired or know other brokers that were fired contact Hadley at:
http://www.kohnswift.com
hroeltgen@kohnswift.com

Posted by VP, Feb 01, 2008 12:30PM

I have an offer from CS for IT Manager in Asset management, is it worth it?