From the files of the "maybe we never should've gotten into this in the first place" department: the RMBS group at the S&P has supposedly informed the would-be incoming Associate MBA class that their services are no longer required. Additionally, a "bunch" of research assistants, "some" MDs and one director have been downgraded from "career watch negative" to "dismissed."
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Posted by guest , May 21, 2008 10:59AM
The downgraded comment gets an A.
Posted by guest , May 21, 2008 11:03AM
Update on the downgraded comment: in view of the uncertain labor market it is now being assigned a B+ rating.
Posted by guest , May 21, 2008 11:07AM
"downgraded comment": in view of the recent execution of rightsizing head counts in the financial industry it is now being put on negative watch.
Posted by guest , May 21, 2008 11:11AM
incoming MBAs at the rating agencies are not "associates", i think you have "the S&P" confused with an investment bank perhaps.
Posted by guest , May 21, 2008 11:15AM
"downgraded comment" in view of Moodys big price drop today, the comment is now being assigned to junk. The reasoning: the top brass at all ratings agencies should have all being fired.
Posted by guest , May 21, 2008 11:17AM
Maybe we can get CNBC's on airhead editor and otherwise financial genius Chuck Gasbagarino to predict "more cuts" at S&P. Since he is always wrong, we might actually have some good news here.
Posted by guest , May 21, 2008 11:33AM
any news about layoffs at LEH this week - havent seen anything on the internet, but i got a bunch of termination of coverage emails - so am assuming research at least has been hit
Posted by guest , May 21, 2008 11:39AM
11:11:
good look re-writing the english language, dumbass.
Posted by diablo , May 21, 2008 11:57AM
The layoffs at S&P are to compensate for the extra lawyers they have to hire. Moody's is in the same boat.
Posted by Rating_Analyst , May 21, 2008 9:27PM
MBA recruits are associates at S&P and the 2007 MBA class was wiped out. 246 total employees will be let go. The rumor is that 150 were in structured. RMBS and CDOs were hit the worst (no surprise).
It's great to see some agency news on this site....
Posted by guest , Aug 21, 2008 4:35PM
I heard there were some more layoffs at S&P about a week ago. ANyone got any info?
Posted by guest , Aug 21, 2008 4:35PM
I heard there were some more layoffs at S&P about a week ago. ANyone got any info?