Severance Watch '08: Bear Stearns

Posted by Bess Levin, Jun 02, 2008, 10:49am

Apparently getting laid off by Bear Stearns in Dallas isn't such a bad deal. First year analysts are said to be receiving three months severance plus a full bonus, according to a source familiar with the parting gifts.

5Recommend this! 12Comments

Tags: Bear Stearns, layoffs

Comments

1

Posted by guest , Jun 02, 2008 10:57AM

What about a sheet cake????

2

Posted by mktmkr , Jun 02, 2008 10:59AM

Equities in Dallas!

3

Posted by guest , Jun 02, 2008 11:04AM

And second year analysts are getting nothing. Look it up.

4

Posted by guest , Jun 02, 2008 11:25AM

A first year I know at bear in nyc got laid off with 3 months severance and a bonus. Not a bad summer break if you ask me.

5

Posted by lift all the offers , Jun 02, 2008 11:27AM

Sure, but it's only a break if you find meaningful employment on the other side.

6

Posted by guest , Jun 02, 2008 11:41AM

Know for a fact that first years in NYC got 12 weeks + bonus. Woo severance summer 08!

7

Posted by merkin capital partners , Jun 02, 2008 12:00PM

12 weeks...lucky, that's way better than 3 mos

8

Posted by guest , Jun 02, 2008 12:06PM

merkin capital partners...stop it...yer killin' me!
~Shecky Buffett

9

Posted by guest , Jun 02, 2008 12:27PM

smartass, 12 weeks is actually worse than 3 months

10

Posted by guest , Jun 02, 2008 2:21PM

If the FEDS had any interest in fixing the problem instead of setting example, blame would have been put on Citi to increase controls and reporting. Sure Gile was in front of this, but he was just a cog in the machine.

This article fails to draw attention to the fact that the inflated numbers benefited Citi as well. Jailing Giles will change no ones actions and just makes it easier for Corps to place blame on employees for oversites that the Corps themselves could have much easily corrected. Why would they though when the traders will now take the fall?

-chad

11

Posted by guest , Jun 02, 2008 2:22PM

shit, posted that in wrong page. ignore.

-chad

12

Posted by guest , Jun 02, 2008 5:57PM

How much bonus are they getting (full year #s haven't been released yet)?

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