Reuters reports that Goldman Sachs laid off investment bankers last week, as a result of slowing M&A activity. The cuts were in the hundreds and affected support staff junior level bankers. Might not seem like a big deal to you, [Bear, Lehman, UBS], but they most certainly are a BFD to Goldman, and, of course, its biggest cheerleader. In related news, we hear that tensions at Lehman Brothers following this morning's conference call are running high. After the jump, dramatic interpretation of what's been poppin' in Dick Fuld's office in the last hour or so.
Goldman cuts M&A jobs as business slows [Reuters]
Posted by guest , Jun 16, 2008 1:51PM
what is "the jump"?
Posted by guest , Jun 16, 2008 1:55PM
151 are you serious? get off the intertubes before you break something.
Posted by guest , Jun 16, 2008 1:57PM
just tell me what it is
Posted by guest , Jun 16, 2008 2:04PM
A gang, popularized by Richard Greico and Johnny Depp who were young members of a police force working undercover to thwart juveniles from becoming adult criminals.
Fun trivia: in an October 16, 1988 episode, Richard busts into an abandoned flat only to find a weed-smoking CEO passing a spliff to three young men. The "CEO" was played by Jimmy Cayne, himself.
Posted by FUNdamental , Jun 16, 2008 2:06PM
Things really escalated quickly!
Posted by guest , Jun 16, 2008 2:20PM
sigh.
Posted by GinNTonic , Jun 16, 2008 2:32PM
Brick, I've been meaning to talk to you about that. You should find yourself a safehouse or a relative close by. Lay low for a while, because you're probably wanted for murder.
Posted by FUNdamental , Jun 16, 2008 2:55PM
@Gin - Yeah there were horses, and a man on fire, and i killed someone with a trident
Posted by guest , Jun 16, 2008 3:00PM
you idiots. the clip isn't from old school.
Posted by GinNTonic , Jun 16, 2008 3:06PM
dumbass @ 3:00PM
Someone got killed with a trident in Anchorman, which also has Will Ferrell.
Posted by FUNdamental , Jun 16, 2008 3:07PM
@3:00 - no shit. Neither are the quotes we posted. (Hint....the tie in to the movie in question is the use of a trident to aerate a fellow human's chest)
Posted by guest , Jun 16, 2008 3:07PM
Probably a good thing, since their quotes are from Anchorman...
Posted by guest , Jun 16, 2008 3:36PM
"The Jump" is when you click the link to go to "the rest of the story" and the comments area.
~ Kaptain Robbie Kneivel
Posted by guest , Jun 16, 2008 3:44PM
"One insider told Reuters that 25 percent of employees at the vice-president level were let go."
Hate to say it, and i thought i would be the last to, but the VP title has been diluted across the Street....
Used to be in the 90s for Sr. Assoc's a 3 series and an entry Rolex would be all you could hope for if you got the MBA and made it to the office for 4yrs. Then,MDs would take a hard look at their nerdy, badly dressed, un-confident Sr. Assoc's and say....does this guy ever have a chance of winning business???? and if so they would get the nod...more often not.
Now, the VP's are all empowered and will give you lip about quality of life, boundaries, and client-access. In reality the MD's think: "we need some glorified babysitters to manage the kiddies and round up the accounting, legal and client-staff shlock; promote these losers to VP, then we'll fire before he proves us right that he cant generate revenue !
VP will soon stand for Very Pissed
Posted by guest , Jun 16, 2008 3:50PM
^hey! that's not nice!
Posted by guest , Jun 16, 2008 4:16PM
The "jump" was first a newspaper term. Like when you read a story on page 1, and they say, "Continued on page 5." That direction to "jump" to a subsequent page is called a jump.
Posted by guest , Jun 16, 2008 4:22PM
Thank you 4:16 and 3:36
Posted by MF , Jun 16, 2008 4:33PM
guest @3:44 must be a 'temp'. Probably answering phones / making copies.
Posted by guest , Jun 16, 2008 4:55PM
GinNTonic
FUNdamental
two chimps
Posted by guest , Jun 16, 2008 4:55PM
GinNTonic
FUNdamental
two chimps
Posted by guest , Jun 17, 2008 2:16AM
What the article did not mention but is worth noting is that some of these laid off jobs are going to resurface in Bangalore.
Why didn't the reuters writer check with the Goldman spokesperson about how many are they hiring in India.
Any thoughts on how to get a visa to go to India?