Severance Watch '08: JEF

Posted by Bess Levin, Dec 09, 2008, 5:21pm

Analysts and associates laid off last week from Jefferies apparently received a whopping 4 weeks + zero percent of last year's bonus.

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Tags: Happy Holidays

Comments

1

Posted by Anal_yst , Dec 09, 2008 5:33PM

ouch

2

Posted by guest , Dec 09, 2008 5:34PM

Should be glad they got 4 weeks.

3

Posted by guest , Dec 09, 2008 5:36PM

Christmas at the Treasury!

http://blog.ntu.org/main/post.php?post_id=4061

4

Posted by guest , Dec 09, 2008 5:39PM

bucket shop

5

Posted by Lowly Assistant , Dec 09, 2008 5:41PM

Wow, I usually don't feel bad for anyone, but that's fucked.

6

Posted by guest , Dec 09, 2008 5:51PM

saving money for those who actually will get paid semi-normal this year...JEF=NOT A TARP BANK

7

Posted by Formerly FEPWJ , Dec 09, 2008 5:57PM

@6 are you joking? TARP or no TARP JEF has no reason to compensate their bankers any better. If their guys complain there are enough former bulge bracket guys to fill wideclops' forehead

8

Posted by guest , Dec 09, 2008 6:07PM

damn wideclops...and take your cankles somewhere else.....

9

Posted by guest , Dec 09, 2008 6:08PM

7 calm down; just making an observation; not like I work there. But would rather be there than say Citi, bofa, ubs, or Morgan right now. Those guys will be getting NADDDDDAAA...yeah I want a bonus clawback..not..

10

Posted by guest , Dec 09, 2008 6:29PM

What is JEF?

11

Posted by guest , Dec 09, 2008 6:51PM

CS has cut the majority of bankers in their HOLT valuation group, from the most senior to the most junior people

12

Posted by guest , Dec 09, 2008 7:02PM

CS was terrible today. More tomorrow.

13

Posted by guest , Dec 09, 2008 7:19PM

I can't believe the shear snobbery in some of these comments.
* Are you guys still even employed?
* Do you even work at a firm that you consider not a "Bucket Shop"?

Actually, I'd pretty much say they were all the definition of Bucket Shop at the end.

How long can Wall Street continue to go on fucking Main Street before:
* We go communist (eg asset seizure/nationalization)?
* Someone goes postal?

I'd say not long. It is starting with worker sit-ins but it is going to escalate to violence here pretty quick.

Keep enjoying the models and bottles while the severance checks last.

14

Posted by I am a Dude , Dec 09, 2008 7:19PM

JEF is a bucket shop for windbags. most people in finance would not even come across them if they weren't the loudmouth at the bar.

15

Posted by guest , Dec 09, 2008 7:21PM

@12, what groups at CS today?

16

Posted by guest , Dec 09, 2008 7:32PM

The rumor was that they focused on IB today, I know people in M&A and technology that were included in the layoffs. Tomorrow they are apparently going after IB Legal (the lawyers that cover banking) and perhaps compliance. Overall, a nasty day with a lot of depressed people.

17

Posted by guest , Dec 09, 2008 7:41PM

thats cold!!

18

Posted by guest , Dec 09, 2008 7:42PM

Yeah. They had the holiday party tonight, though! Yey.

19

Posted by Anal_yst , Dec 09, 2008 7:51PM

@ 14

Rejected 1st round from JEF? Chill out man. I know some good 'folk who were once at Jeffries. Your f-tard overgeneralization betrays your a)ignorance, b)jealousy, c)intoxication/inebriation while commenting on DB.

I'll give you the benefit of the doubt that its the latter, but don't push your luck.

20

Posted by guest , Dec 09, 2008 8:10PM

@13 it's not snobbery, you just have a complex from being a Main Street idiot (no doubt the product of some third tier shit hole).

It's SHEER snobbery, you fucking moron.

SHEAR is something you do to get wool from a lamb.

Now run off and watch your 401k melt while I keep living it up off of management fees.

21

Posted by guest , Dec 09, 2008 9:26PM

Piper Jeffries?

22

Posted by guest , Dec 09, 2008 9:26PM

Piper Jeffries?

23

Posted by guest , Dec 09, 2008 9:27PM

Piper Jeffries?

24

Posted by Seaman Bodine , Dec 09, 2008 9:48PM

seriously, only fucking jackoffs at actual sell side firms that couldn't get real jobs bitch about severance

hint: if you are an "at will" employee, you work for a real firm, and when the shit hits the fan, you are out...ZERO severance

fucking pikers

25

Posted by guest , Dec 09, 2008 9:54PM

20 "off of" management fees? Talk about third rate schooling.

22 It Piper Jaffrey, but here JEF = Jeffries & Co. A decent place all around, but esp in fixed income.

26

Posted by Seaman Bodine , Dec 09, 2008 10:04PM

@25

bucket shop

or, an analagy for you:

if they knew anything they wouldn't be "puertoooo ricannssss"

27

Posted by guest , Dec 09, 2008 10:12PM

@26

Classic. or "if they knew anythign they would not be wideclops"

@24 That is about right...finally someone who is not a total bitch about gettign it in the teeth. We all signed up for the fat tails on the upside so lets not complain now that we see the fat tail on the down side.

Calgreedy

28

Posted by guest , Dec 09, 2008 10:20PM

@ everyone. I didn't know the dealbreaker forum became a Leveraged Sellout free for all. Please proceed with the following arguments:

1. My school is better than your school
2. My bank is better than your bank
3. NY is so much better than LA/Chi
4. My bonus is bigger than your bonus
5. Greatness.

29

Posted by guest , Dec 09, 2008 10:21PM

sucks for the axed folks.
2008 gig in finance = 2006 leveraged finance MD.

Good luck b1tches!
Tanned Banker

30

Posted by guest , Dec 09, 2008 10:31PM

Jefco has a few really good equity analysts and some solid traders. we actually direct quite a few of our broker trades their way.

That being said, all you fucking queers forget that this is a purely human capital driven industry...

Just like there are some complete fucking retards from every MBA program, and some CFAs...there are dumbshits on EVERY desk and in EVERY IB program. I've met insanely bright people from Baird, Wachovia, RBC while I've met fucksticks I wouldnt want ringing me up at Gristede's that somehow got into MS, GS or Citi.

31

Posted by guest , Dec 09, 2008 10:46PM

Poor bastards, wideclops shows no mercy to no one!!!

32

Posted by guest , Dec 09, 2008 10:50PM

@28, been there done that have the tattoo... why don't you return to Yahoo and spend some quality time mentally masturbating with the great unwashed.

33

Posted by guest , Dec 09, 2008 11:17PM

jerk off to quality porn on www.mpegmovieheaven.com

34

Posted by I am a Dude , Dec 10, 2008 12:08AM

@19
appreciate the benefit of the doubt, most other poster here, or any other site for that matter wouldnt even cross their mind.
you're one stand up guy.
that being i know there some decent folks at JEF, just had a major run in with them in the past. wont go into details.. but hard for me to look up to the place.
First round at JEf? i didnt even know they recruited.

35

Posted by I am a Dude , Dec 10, 2008 12:13AM

@30
well said. that about sums it up for wall st.

36

Posted by guest , Dec 10, 2008 8:00AM

4 weeks, jeez. That hurts.

37

Posted by guest , Dec 10, 2008 8:43AM

morning roundup/bring out your dead


http://endofesq.com/?p=670

38

Posted by guest , Dec 10, 2008 9:14AM

Get your shovels ready! The world still needs plenty of ditch diggers.

39

Posted by guest , Dec 10, 2008 9:30AM

@28 three cheers.

@32 did you even understand what he was saying?

40

Posted by guest , Dec 10, 2008 9:37AM

For csfb, anyone in prime services/global?

41

Posted by guest , Dec 10, 2008 10:29AM

30 - Well said.

42

Posted by guest , Dec 12, 2008 12:02PM

30 -- best comment in the thread

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