Layoffs Watch '08: Wachovia

Posted by Bess Levin, Jul 02, 2008, 1:38pm

Wachovia Capital Markets is said to have laid off approximately ten percent of its equity research staff yesterday. I think we all know what that place needs.

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Tags: layoffs, Wachovia

Comments

Posted by guest, Jul 02, 2008 2:05PM

It's obvious that what that place needs is 10% fewer "equity research staff" people.

Posted by guest, Jul 02, 2008 2:05PM

10% - He, he, that would be the intern getting fired.

Posted by guest, Jul 02, 2008 2:06PM

Yeah to go out of business like Bear!

This market downturn is just cleansing the market of all the shitty excess thathas built up during the good times.

Bear, Lehman, Wachovia (a.k.a. Prudential Securities), B of A (a.k.a. a whole bunch of shit companies rolled up under a bank umbrella) they are all the useless extinct breed that needs to go.

Posted by guest, Jul 02, 2008 2:09PM

How about 100% less useless "research staff" is more like it add in there 100% of the trading staff, 100% of the ops staff, i guess you can keep 10% of HR and administration to clean up the mess after the rest are gone but only till year end.

They need to go back to being a BANK and get out of the broker dealer business!

Posted by guest, Jul 02, 2008 2:11PM

I hope they get rid of the VaR guy who makes you get out of awesome winning positions because they are under water a bit at first.

~28 year old trader

Posted by guest, Jul 02, 2008 2:14PM

Wachovia drops coverage of five sectors
http://www.tradingmarkets.com/.site/news/Stock%20News/1730994/

Posted by guest, Jul 02, 2008 2:26PM

All I can say is BUH-BYE BITCHES!!!

Posted by guest, Jul 02, 2008 2:29PM

Are you gonna start publishing Starbucks Layoff Watches?

Posted by guest, Jul 02, 2008 2:30PM

@ 2:11

you might appreciate this man's opinion: http://noisefromthetrain.blogspot.com/2008/05/anyone-whos-ever-been-quoted-by-any-of.html

Posted by guest, Jul 02, 2008 2:32PM

I would say wall street is having a venti layoff season. Starbuck will only be a grande.

Posted by guest, Jul 02, 2008 2:36PM

Hey who is the hottie on CNBC from Pacific Crest rght now...Bracelin?

Posted by guest, Jul 02, 2008 2:48PM

HAHAHAHA...

This is a good one

"LEHMAN TO ISSUE STOCK TO EMPLOYEES FOR RETENTION" reported on CNBC.

This is turning into pure desparation. Now they are issuing worthless stock to keep people from running out the doors. This would translate into not being able to pay bonuses and possibly salaries.

Maybe this is their way of trying to avoid a "take under" but it wont work. It is a take under or out of business.

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