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]
what is “the jump”?
151 are you serious? get off the intertubes before you break something.
just tell me what it is
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.
Things really escalated quickly!
sigh.
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.
@Gin – Yeah there were horses, and a man on fire, and i killed someone with a trident
you idiots. the clip isn’t from old school.
dumbass @ 3:00PM
Someone got killed with a trident in Anchorman, which also has Will Ferrell.
@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)
Probably a good thing, since their quotes are from Anchorman…
“The Jump” is when you click the link to go to “the rest of the story” and the comments area.
~ Kaptain Robbie Kneivel
“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
^hey! that’s not nice!
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.
Thank you 4:16 and 3:36
guest @3:44 must be a ‘temp’. Probably answering phones / making copies.
GinNTonic
FUNdamental
two chimps
GinNTonic
FUNdamental
two chimps
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?
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