MER London is said to have laid off 20 percent of its first years today. Three months severance, no bonus. Makes five minutes in Citi’s JO&C’ing room look pretty good, doesn’t it?
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Predictable…the real layoffs will now begin when bonuses are due. The wait till year end…the blood will really be flowing all over.
Predictable…the real layoffs will now begin when bonuses are due. Then wait till year end…the blood will really be flowing all over.
anyone hear anything about UBS layoffs in Wealth Mgmt areas? I hear they are trying to streamline to try and sell the whole thing.
The more the bad numbers keep piling up, the less secure the jobs. Many db readers should take this weekend to think about what will be their particular “life after wall St”. After all, June 30th is a good time to hand out those pink slips.
who cares about wealth management, that is monkey shit
Anyone know what kind of severance citi is paying for layoffs?
Too long, didn’t read.
@ 2:42
It is the only piece of UBS worth anything…granted it is PaineWebber, a piece of crap to begin with.
mayo, mayo and more mayo
Would anyone actually miss this business if they were let go?? Aside from the paycheck ofcourse.
@2:33-
Is anybody in this business for anything other than the paycheck, you half-wit?
Do I wake up in the morning and get to my desk by 7 because I feel like I’m contributing to the improvement of the world as we know it?
@ 2:33
The way you guys agonize over every little thing you would think that you did!
duhn duhn duhn
Are you talking about first year analysts or associates?
Is it IB or Global Markets?
three months severance, no bonus = US$15k (don’t know UK base) as a “bonus,” which is better than some who still have jobs…
ugh, what does Alf have to do with the story.
The unemployment stats are up but I still see many high paying finance jobs posted on employment sites i.e.
http://www.realmatch.com
http://www.monster.com
http://www.simplyhired.com
There seems to be a strong demand for professionals desite the stats
2:33 posted Mayo, Mayo, Mayo. Great post.
Look at what I found posted on another related article. What a moron.
Posted by guest, Jun 26, 2008 10:53PM
Gasbagarumor is little more than an outlet for Mike Mayo. Not a bad source. The problem is that he understands little of what Mayo tells him (even if MM repeats it 50 times). Why you ask? Because he lacks an understanging of the basic concepts of finance (he can barely add) and has the oratorical skills of Vinny the Legbreaker (“Alls yous guys gots ta do is let me cut you off in the da middle of yur comment”). BTW – when did beating a press release of public information by 30 seconds become “breaking” news. Me thinks he breaketh wind not news!
Posted by guest, Jun 27, 2008 12:59AM
that guy is the mother of all morons. look at his track record and you’ll see that what he’s got to say is horseshit.
Posted by guest, Jun 27, 2008 7:25AM
Companies regularly time their information embargos to the media to end just before the press release so that the TV media can start reporting it immediately.
Just saying.
“”"who cares about wealth management, that is monkey shit”"”
This coming from a douchebag who’s about to get axed from their i-banking job. You’ll be caring about wealth mgmt very soon … you’ll be caring about anything and anyplace that will give you a job.
I would rather be a laid off I-banker than a cock sucking ass kissing wealth management pussy.
I would rather be a laid off I-banker than a cock sucking ass kissing wealth management pussy.
I would rather be a laid off I-banker than a cock sucking ass kissing wealth management pussy.