Credit Suisse Workers Encouraged To Seek Employment Elsewhere

Posted by Bess Levin, Mar 05, 2008, 2:43pm

A bunch of first years in Credit Suisse’s financial sponsors group—who supposedly haven't yet received their bonuses—were told today it’d be in everyone’s best interest if they stopped showing up to the office, circa now. Not technically laid off (that actually would’ve been more humane, cause at least it would mean a few well-deserved weeks of sleeping late and self-pity), the options offered to the Little Dougans were a. Get a job somewhere else b. Work back office for Credit Suisse outside the U.S. Either way, they can kiss their ridiculously short walk to the Shake Shack good bye, unless of course they’re planning on going with option A, and putting resumes in at the new, year-round Shack on the Upper West Side, which is now hiring.

1Recommend this! 14Comments
Posted in: Credit Suisse

Comments

Posted by guest, Mar 05, 2008 3:11PM

As a millennial, I would like to know if I can make Assistant Night Manager within a year at a $150,000 per year with no overtime? Call me!

Posted by guest, Mar 05, 2008 3:15PM

Two words: "North Dakota"

Norwegian and Swedish rooted women, 98 adjectives for "cold", low crime, low priced housing, more jobs than people, wild, flat beauty and you'd be a big fish in a small frozen pond. Find a mate, finish out your basement, raise kids and live happily ever after.

Or....well.....you're living there now, no offense, but how's that working for you?

Posted by guest, Mar 05, 2008 3:18PM

Dear Shake Shack:
I can re-package and structure alternatives to a cold take-out by using the "sandwich derivatives" that I have created. Asking $200K and a driver.

Posted by guest, Mar 05, 2008 3:30PM

You know the economy is bad when even the Swiss are screwing people over...

Posted by guest, Mar 05, 2008 3:36PM

roughly how many people does this affect?

Posted by guest, Mar 05, 2008 3:38PM

I think the crowd at the Monkey Bar may thin out a bit! Otherwise, who cares?

Posted by big r, Mar 05, 2008 4:17PM

how have they not received bonuses yet? they were given out feb 15 across the firm?

Posted by ab, Mar 05, 2008 4:26PM

new analysts are on the summer bonus schedule.

Posted by guest, Mar 05, 2008 4:29PM

To 4:17...The Swiss can be strange. The head ARMs trader discovered he was getting the axe when he showed up at his desk early one morning....and his shit was no longer there and somebody elses was. True story.

Posted by guest, Mar 05, 2008 5:24PM

Sponsors coverage bankers are nonsense

Posted by guest, Mar 05, 2008 6:42PM

Like someone said ...bonuses were given out in February (announced in January). Are you sure these guys were really working there? Maybe they were just squatters and the gig was up.

Posted by guest, Mar 05, 2008 6:52PM

Like someone else said...analysts get paid in the summer....dumbass

Posted by guest, Mar 05, 2008 9:14PM

They weren't given the boot(yet)...just told to speed up their PE/VC/hedge fund job searches... 1st yr banking analysts are already being recruited/hired away anyway... it's not a big deal...there's only a handful of sponsors analysts

Posted by Prince of Wall Street, Mar 06, 2008 4:00AM

1st year analysts are paid on the summer bonus calendar so I don't know what this no bonus thing is all about. If you are in CS sponsors, one of the best sponsors groups on the street, you probably had an offer 9-12 months into the job to start at a PE shop after your 2 year gig at the bank ended. Maybe some of these analysts just start at the PE shop earlier.

Post Your Comment