Nov 11, 2009, 10:34am
Nov 10, 2009, 8:45am
The aforementioned cuts at the House of Mack, which are said to have begun in part on Tuesday, are supposedly going down in equity derivatives circa now. We'll keep you posted.
Update: Apparently it's *all* divisions, not just equities. So that's nice.
Sep 15, 2009, 2:22pm
I sense some judgment from the Bloomberg reporter here re:...
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Sep 15, 2009, 2:00pm
Tudor BVI Global: August 2009: 0.5% YTD: 12.5% ...as for...
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Sep 09, 2009, 11:27am
Goldman Sachs partner managing director Richard Kimball Jr. apparently got...
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Sep 09, 2009, 10:15am
Ladies, if you've been looking to work under one of...
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Posted by guest , Feb 12, 2009 10:04AM
Professionals don't call them "cuts". We call them "mono-directional intellectual capital transfers".....
~The HR Guy Who Still Has His Job
Posted by guest , Feb 12, 2009 10:05AM
@1...and we don't call you HR guys, we call you fucking homos
Posted by guest , Feb 12, 2009 10:06AM
Yea...we just lost one of our reps with them a few mins ago.
Posted by guest , Feb 12, 2009 10:17AM
BEWARE THE WIDECLOPS!
Posted by guest , Feb 12, 2009 10:17AM
I need a wideclops, that's top of the line
Wide eyes, busted face, and big ba-hind!
Posted by guest , Feb 12, 2009 10:18AM
I SHOULD HAVE TAKEN THE MONEY!
- Tombs
Posted by guest , Feb 12, 2009 10:24AM
@5 - That is awesome! Well done!
Posted by guest , Feb 12, 2009 10:30AM
5 - here
Don't thank me - thank Michael Jones
Posted by guest , Feb 12, 2009 10:31AM
first year analysts got cut
Posted by venturedouch , Feb 12, 2009 10:31AM
@5,8
Hahahaha, Mike Jones makes the world go round!
Posted by guest , Feb 12, 2009 10:38AM
Soon, only the ass kissers will be left in this business. More fuck ups on the way but no profit.
Posted by guest , Feb 12, 2009 10:41AM
When does the board take out Mack the Knife....
Posted by guest , Feb 12, 2009 10:44AM
not unexpectedly, but prime brokerage getting hit hard
Posted by guest , Feb 12, 2009 10:56AM
How are things in Prime Brokerage .... anyone left in Client Service ??
Posted by guest , Feb 12, 2009 11:00AM
How is back office?
Posted by guest , Feb 12, 2009 11:04AM
EFS Tech, 2 VPs + 4 Assoc so far gone
Posted by guest , Feb 12, 2009 11:08AM
@2, and we call guys like you fucking homophobes.
Posted by guest , Feb 12, 2009 11:09AM
MSIM Ops taking a whacking too. Movin the work to India (is that still en vogue?)
Posted by guest , Feb 12, 2009 11:12AM
Any news on Adv Tech ?
Posted by guest , Feb 12, 2009 11:13AM
@5, 8, 10,
Who?
Posted by guest , Feb 12, 2009 11:15AM
@17
We call you an "evolutionary quandary"
Posted by guest , Feb 12, 2009 11:15AM
Michael Jones - he was appointed to Obama's inner circle
pictured here holding TALF/TARP money:
http://blogs.sohh.com/media_check/archives/Mike-Jones%5b1%5d.jpg
Posted by guest , Feb 12, 2009 11:16AM
Fuck it. Fire everybody, move the headquarters to Mumbai, and appoint Apu Nahasapeemapetilon CEO.
You know it's going that direction anyway.
Posted by guest , Feb 12, 2009 11:16AM
@20
MIKE JONES!
Posted by guest , Feb 12, 2009 11:23AM
I worked there for long years in Tech. Let me list down whom to fire, Please listen.
fire in this order to saev yourselves
1. Paul Cherian (LN IT)
2. Bruce Liebenberg (NY IT)
3. Adam Williams (LN IT)
4. Forgot the name of the guy who runs STP IT in London. First name is Paul..the lean bastard
5. whole trades IT (email: TRHOT)
THE ABOVE FOLKS RECEIVED TRUCK LOADS OF KICKBACKS FROM INDIAN SOFTWARE VENDOR AND RUINED IT AND INNOVATION. THEY MADE LOT OF ASSOCIATES LOSE JOBS.
(EG:- SEE THE AMOUNT OF TCS ASSOCIATES SITTING IN TORONTO....NY..LON...cant they work from offshore locations ?)
FIRE THEM FIRST AND IT WILL BE CLEAN.
DO YOU WANT ME TO WRITE LETTERS TO SENATE ?
Posted by venturedouch , Feb 12, 2009 11:26AM
Bess, pretty sure comment #25 needs to be deleted.
Posted by guest , Feb 12, 2009 11:31AM
@26..what is wrong with the comment ?
he is not saying some untruthful, he is simple making accusation.
Isnt that allowed ?
Posted by guest , Feb 12, 2009 11:35AM
@26 are you from TCS getting $400 per day and loitering around our Manhattan office speaking in Telugu.
Posted by guest , Feb 12, 2009 11:36AM
Maybe @26 was named in @25?! Is that you "lean bastard" Paul?
Posted by guest , Feb 12, 2009 11:36AM
@25 YOU should be fired for the simple reason that your command of english indicate retardation.
The treat to the world used to be ignorant people, now it is ignorant people with University degrees or in your case a 12 month career program at bumblefuck community college.
Calgreedy
Posted by guest , Feb 12, 2009 11:37AM
@25 YOU should be fired for the simple reason that your command of english indicates retardation.
The threat to the world used to be ignorant people, now it is ignorant people with University degrees or in your case a 12 month career program at bumblefuck community college.
Calgreedy
Posted by guest , Feb 12, 2009 11:37AM
What about the Ops in Baltimore, the Credit Derivatives unit?
Posted by guest , Feb 12, 2009 11:38AM
27 No its not allowed. Its OK to criticize John Mack - he's a highly compensated public figure, part of the bargain is that he has to defend his actions to the public all the time. Not the same for some obscure person in the pit of the organization.
BTW: are you asian? You talk funny.
Posted by guest , Feb 12, 2009 11:40AM
What about equities in Dallas? Oh, wait.
Posted by guest , Feb 12, 2009 11:41AM
What about the Ops in Baltimore, the Credit Derivatives unit?
Posted by guest , Feb 12, 2009 11:44AM
@33 - No am latino.
@31 - Ignorant people ? Have you tried working with TCS folks ? when your son loses his job to a TCS dimwit be prepared to bend over. Oh wait, you arent eligible to get a son..huh
Posted by guest , Feb 12, 2009 11:48AM
MS hires Latinos?
Posted by guest , Feb 12, 2009 11:48AM
Ops in Baltimre will be fired later today,.
Who will be untouched is douchebags in TORONTO.. TCS
How unfortunate. We issue debt, beg money, get TARP and then pay out to TCS folks sitting in Onsite locations. How very unfortunate of us.
Posted by guest , Feb 12, 2009 11:51AM
@36
Everyone knows the curry mafia has the IT world locked down now.
Have you read anything Thomas Friedman has written in the past eight years?
Posted by guest , Feb 12, 2009 11:52AM
will this be the last round of firm-wide layoffs in MS? Sounds naive, just want to get a sense how everybody think in terms of how far we are getting close to the bottom.
Posted by guest , Feb 12, 2009 11:53AM
Ah, Morgan Stanley. I remember when the tech guys on the Program Trading desk tested the new system against the "test line" turned out they were connected to a live feed to the NYSE. They sent a $1BB SELL MKT basket 5 minutes before the close. Grasso calls up to ask what the hell we're doing. The head of the desk freaked out. We took a $30MM loss that day. That place was always a crap show. If Michael Moore wasn't such a fat obnoxious bastard I might have spilled the beans on what really went on there.
Posted by guest , Feb 12, 2009 11:54AM
latinos spice up the industry.
Posted by guest , Feb 12, 2009 11:56AM
Does MS hire latinos above cleaning crew grade?
Posted by guest , Feb 12, 2009 11:56AM
well said 39.
Curry Mafia has become smart. Thats what I want to highlight here.
Lets say X is a MS ED in IT., he has a new system to be built, the TCS Marketing guy learns about this and takes him for a nice drink that evening.
Then several deals gets discussed during the course of the drink that he finally gets threatened that if he doesnt giev it to TCS his bonus wont be reading pretty as his senior (the MD) is already hand in glove.
What was highlighted in the post above are those "hand in gloves"
Posted by guest , Feb 12, 2009 11:57AM
mmmm.... all this latino talk makes me want to go to La Isla in the 'boken.
Posted by guest , Feb 12, 2009 12:02PM
Hey 41. My friend was there when that happened. I was in a different department
Circa 2006 . Right ?
Any names ? Thierry Hue was there ?
Posted by guest , Feb 12, 2009 12:26PM
What fuck are you IT nerds doing here? go play fucking tetris. IT GO HOME, IT GO HOME.
Posted by guest , Feb 12, 2009 12:36PM
@40, are you serious? we are far far from the bottom.
Posted by guest , Feb 12, 2009 12:47PM
@40 I heard there is another round somewhere in May/April, if not before then...
Posted by guest , Feb 12, 2009 12:59PM
@40- firms will continue to lay off employees en masse every quarter until the recession ends.
Posted by guest , Feb 12, 2009 1:07PM
@24
Who?
Posted by guest , Feb 12, 2009 1:10PM
Any news on pb? Anyone?
Posted by guest , Feb 12, 2009 1:12PM
@50 - and then start hiring them back?
Posted by guest , Feb 12, 2009 1:25PM
prime brokerage getting crushed, one of my buddies who got dusted said half the first years are gone and still going.
Posted by guest , Feb 12, 2009 1:41PM
When does GS axing begin?
Posted by guest , Feb 12, 2009 1:50PM
@45 - La Isla is the best - just can't go in the summer because it is 100 degrees in there
Posted by guest , Feb 12, 2009 1:57PM
Any news on pb? Anyone?
Posted by guest , Feb 12, 2009 2:07PM
GS axes come down in early march.
There will be a round every quarter until things turn. but basically i-banks will become half the size they were in late 2007.
Posted by guest , Feb 12, 2009 2:17PM
Too lean; didn't Paul.
Posted by guest , Feb 12, 2009 2:23PM
@47: "What fuck are you IT nerds doing here? go play fucking tetris. IT GO HOME, IT GO HOME."
To quote a friend of mine who works in *IT*:
"Without IT, you would still be writing on stone tablets."
Revenue centre people are such cocks. Hopefully the ones who don't understand the value of technology all get RIF'd this year.
Posted by guest , Feb 12, 2009 3:29PM
@60 fuck you
Posted by guest , Feb 12, 2009 3:48PM
wanna have a discussion about next hot spot of finance industry will be.
Anybody has any thoughts or vision?
Posted by guest , Feb 12, 2009 4:06PM
If you had asked me about a year ago, I would have said asset management of all sorts. People saving for retirement, in response to the idea that soc sec as we know it is going to be a non-starter and the decline in defined benefit pension plans. Not so sure now that markets have corrected.
Posted by guest , Feb 12, 2009 4:19PM
62 I would like it to go back to a system like the old days of commercial vs. investment banking: lowest risk transactions in highly regulated public companies, with implicit government support if things go too wrong. High risk transactions carried out by private firms, where partners risk their own capital.
Posted by guest , Feb 12, 2009 6:51PM
any word about IBD, GCM, places that matter???
and IT, I used to send my interns to bully you and make you cry, so shut up
Posted by guest , Feb 12, 2009 7:00PM
@65 GCM at 1585 was safe
Posted by guest , Feb 13, 2009 12:02AM
previous round was very senior focused (cost cutting), but this time sounds more like headcount focused according to a friend. some first-year analysts and some admins (cheap labor) were cut w/ few MDs if any shown the door. also a pair of senior traders in equity derivatives left on their own today to try their luck elsewhere
as a aside, last week, dinner benefit cut to $20. MS was one of the few $25/overtime dinner strongholds, now the policy says they must eat "in the office". not sure how that works and if security has been instructed to confiscate anyone trying to leave with food in hand.
Posted by guest , Feb 17, 2009 8:02PM
Any word on next week's layoffs??
Seems like IT was not touched yet, but appears to be next week?!!?
Posted by guest , Feb 19, 2009 7:01PM
@41 it was a trader on the swaps desk that f'd up...typical trader blaming IT for your idiotic decisions...need help turning on your coffee maker?
Posted by guest , Feb 20, 2009 3:21PM
Are they finished with this round? Were 1,800 people let go? Not hearing much at MS. Unless you are in the department where people are let go you don't know what is going on. Told just to keep your head down & keep working!
Posted by guest , Feb 20, 2009 9:34PM
@70 Almost certain they are not done: especially with IT/Back-Office area. Not heard from anyone about RIF in IT area at this point, which means next week is most likely....
Seems to be a trend now....every quarter LAYOFF's
Posted by guest , Feb 24, 2009 9:27PM
In Firm Administration area. Got "staff reduced" today. Was told by the HR C...T that they had layoffs in IT today. called it widespread.
Posted by guest , Apr 01, 2009 11:53PM
Good post #2. I agree with you!!
Posted by guest , Apr 01, 2009 11:54PM
Good post #2. I agree with you!!
Posted by guest , Apr 01, 2009 11:54PM
Good post #2. I agree with you!!
Posted by guest , Apr 02, 2009 12:01AM
MS@ 1585 needs to fire every Admininstrative assistant in the S&T & IT dept. All some of them they do is surf the web, run personal errands and fuck up.
Posted by guest , Apr 02, 2009 12:01AM
MS@ 1585 needs to fire every Admininstrative assistant in the S&T & IT dept. All some of them they do is surf the web, run personal errands and fuck up.