Fortune reports that about 3,000 jobs will be cut from the newly formed BarcLehs by the end of the year. The bloodletting, which began Tuesday, is expected to come primarily from fixed income and trading operations. No word on severance, but it doesn’t look good.
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The LEH CDS auction is going worse than anticipated.
No worries Comrades. Wall Street is full of smug pompous douchebags. Admit that much of the schadenfreude is a natural “venting of the bile” and move on. You are never going to convince anyone to appreciate you by whining about it. So suck it up Douchebags. Take your pink slip like a man.
Besides, there is absolutely nothing to worry about.
When the Obama Revolution turns Wall Street into a giant sweatshop pumping out “worker’s bonds” in order to finance third-world socialism, you’ll all have equal substandard housing in one of the “Obama Village” blocks to be built just outside Newark, plus you’ll have two weeks off to help gather the corn harvest in order to ensure the meagre rations that all of you deserve.
We’ll hold hands and sing paeans to the Great Leader and march in solidarity towards the glorious sunrise of Islamic Socialism in America.
All Hail the Glorious Leader Obama !
He will free you all from the shackles of the Free Market! He will free us all from the chains of Liberty ! When the (half) Black Messiah destroys Capitalism, we will all be rich in Socialist egalitarianism ! Down with Money!
Down with the Greedy Capitalist Pig-Man ! Hail Obama ! Long Live the Revolution !
“When the Obama Revolution turns Wall Street into a giant sweatshop pumping out “worker’s bonds” in order to finance third-world socialism, you’ll all have equal substandard housing in one of the “Obama Village” blocks to be built just outside Newark, plus you’ll have two weeks off to help gather the corn harvest in order to ensure the meagre rations that all of you deserve.”
That was beautiful. Can’t wait.
@2
didn’t read; too over the top
No more market models and Adderall bottles for me
:-(
The bloodletting started at Barclays on Tuesday… already a pretty significant casualty list.
#2 Governor Palin, I did not realize you read this blog.
# 7. That was a good one :)
This market is getting ridiculous:
http://upzero.com
upzero.com IS SPAM
I got it on Wed.. What a kick in balls.
Good luck to the ones who are left.
Bess, I love you but could you block the IP of the upzero.com fool?
any word on 1st year associate numbers?
Keeping your job is the new flat
@6–where is the list?
@12
If she won’t block me chances are nobody will be blocked.
SPODE
Over the Top was a great movie.
http://www.mpegmovieheaven.com
@15
I don’t know of a specific ‘list’ perse, but I know first-hand that a few guys from fixed income trading are now gone… Traders, TMs, Sales, Credit Risk – you name it.
A few senior sales guys left to sweat it out.
@17, was that the stallone arm wrestling movie?
#2 I will take Obama over Bush any day.
Is the volatility explosion in the SPX blowing up the Equity Derivatives side of Barclehs? Any news on head-chopping in Capital Markets.
I remember being called into a conference room at LEH back in the late 90′s. The told us “look around you. Everyone in this room is not fired”. Good times.
If you sold the S&P 500 skew, at 50, and now it’s trading at 70, doesn’t that mean you’re about to get killed? Just keep marking your books at 40 and hope for the best?
Are vol traders the forgotten victims?
@21
You are a loser
24 I guess that means that you’ll take Palin over Obama. Which makes you the real loser.
With Obama and McCane been only choices – we all are losers!!!
Layoffs at Barclays? I believe in kharma and it’s payback time! I understand my ex boss is now working at the Barclays Web site and I hope he gets the axe (I’ll call him Mr. GR).
You see, Mr. GR went to work at Barclays after wreaking havoc at a large insurance company where he was my boss. First he laid off my boss, a 50+ year old woman minority, and put a man in the role. Then Mr. GR created a “test” then forged my answers in an effort to eliminate my job to divide my role among two men. He cleverly disguised the process as a “reorganization.”
Oh, I was in two protected classes having turned 40 and returned from maternity leave when he created this “test” to get rid of me. I supposed I could have sued, but I believe in Kharma and my time has come!
So Mr. GR is now 51 hopefully feeling a bit of his own medicine at Barclays.