Clearly inspired by Goldman Sachs's decision to turn itself into a slaughterhouse this morning, HSBC also performed a round of population restructuring. The firm cut about twenty percent from leveraged finance in both the US and London today.
Layoffs Watch '08: HSBC Takes Page From Goldman's Play(a) Book
Posted by Bess Levin, Nov 05, 2008, 2:05pm
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Posted by guest , Nov 05, 2008 2:08PM
I have a feeling things will be better tomorrow.
http://www.youtube.com/watch?v=e0daTVnJmt8
SPODE
Posted by guest , Nov 05, 2008 2:14PM
The sun'll come out
Tomorrow
Bet your bottom dollar
That tomorrow
There'll be sun!
Just thinkin' about
Tomorrow
Clears away the cobwebs,
And the sorrow
'Til there's none!
When I'm stuck a day
That's gray,
And lonely,
I just stick out my chin
And Grin,
And Say,
Oh
The sun'll come out
Tomorrow
So ya gotta hang on
'Til tomorrow
Come what may
Tomorrow!
Tomorrow!
I love ya
Tomorrow!
You're always
A day
A way!
Posted by guest , Nov 05, 2008 2:15PM
Is this HSBC's first round of layoffs?
Posted by guest , Nov 05, 2008 2:26PM
@3 it's the 4th round already
Posted by guest , Nov 05, 2008 2:35PM
wow.. $810 for Bella's ID card... That'll feed alot of dogs.
Posted by guest , Nov 05, 2008 2:41PM
@4: thanks (3 here). Can't believe, then, that Lev Fin is just now getting their 20% cut.
Posted by guest , Nov 05, 2008 2:42PM
I've noticed a significant decrease in comments today. Does that mean most of the readers were in lev fin?
Posted by guest , Nov 05, 2008 2:51PM
@7, no the decrease in comments is because everyone is watching the bid on bella's ID card on ebay
Posted by guest , Nov 05, 2008 2:54PM
Decrease in comments reflected in actual decent volume today. Monkeys on my floor actually working.
Posted by guest , Nov 05, 2008 2:59PM
That's crap, you can get db on bbg; I see no validity to that.
Posted by guest , Nov 05, 2008 3:13PM
'bout fvckin time lev fin took it in the can. 18 months of pretending to do deals is enough.
Posted by guest , Nov 05, 2008 3:15PM
What is going on at MS, CS, UBS? not a word from these guys
Posted by bondguy007 , Nov 05, 2008 3:43PM
@ 12, their getting the Griswald christmas bonus wrapped in fat glass of get the hell out and shut the hell up.
Posted by bondguy007 , Nov 05, 2008 3:45PM
@ 12, their getting the Clark Griswold Christmas bonus wrapped in a fat glass of get the hell out and shut the hell up.
Posted by bondguy007 , Nov 05, 2008 3:48PM
http://www.youtube.com/watch?v=YlfV1Q2eSkE
Left this out
Posted by Tau , Nov 05, 2008 3:49PM
Guess Cole and Toscano screwed the pooch
Posted by guest , Nov 05, 2008 3:52PM
I am hearing that HSBC hired a bunch of LF guys from DB who had 6M Gardening Leave and only started in NYC 2M ago. They all had 1Y deals and as such were let go but paid out their contracts. Merry Xmas for them. Too bad for those who didn't get let go.
Posted by guest , Nov 05, 2008 4:31PM
the world needs ditch diggers.
Posted by guest , Nov 05, 2008 4:48PM
A 20% cut in HSBC Lev Fin team means they are now done to 8 people for their one co-managed deal
Posted by guest , Nov 05, 2008 5:34PM
@18 noooooonan
Posted by guest , Nov 05, 2008 6:25PM
more low IQ Wall Streeters on the curb
shame
Posted by guest , Nov 05, 2008 7:15PM
@17 you must be an admin? it's called a garden leave. gr8thxbai.
Posted by guest , Nov 05, 2008 9:26PM
@19 - go easy on the HSBC Lev Fin guys. The HSBC M&A guys are jealous of how busy the HSBC Lev Fin guys are in this environment.
Posted by guest , Nov 05, 2008 9:29PM
Bess - I got pink slipped today. Let's do lunch
Posted by guest , Nov 06, 2008 9:02AM
about fecking time lev fin getting the can. they were the biggest muppets on the street...all the fun for PE firm is in the can too...no more muppet strings to pull !!