Cuts are said to be going down at BarCap circa now, affecting both legacy Lehman and Barclettes. So far hit: LevFin. No word on severance (yet).
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Posted by guest , May 27, 2009 1:03PM
thank god bella isn't here to see this.
Posted by guest , May 27, 2009 1:19PM
Well, at least the summer is just around the corner.
Posted by wcburrs87 , May 27, 2009 1:28PM
2009 will be the absolute worst looking interns ever. thats a wcburrs87 guarantee.
Posted by guest , May 27, 2009 1:29PM
Hello peeps! I am a hedge fund manager. do tell, what is LevFin??
Posted by guest , May 27, 2009 1:30PM
@wcburrs- reasoning behind that?
Posted by guest , May 27, 2009 1:35PM
@4- if you're going to use the "i am a [insert here]," be funnier.
Posted by guest , May 27, 2009 1:39PM
what other groups? tmt? financial sponsors? west coast offices?
Posted by guest , May 27, 2009 1:40PM
does anyone know if other groups like DCM/ECM are getting it as well?
Posted by guest , May 27, 2009 1:40PM
@7- you're being told the groups that are known. if tmt had been axed, it'd be included there. got it?
Posted by Tax Chick , May 27, 2009 1:49PM
Chill Nancy @9. @7 & 8 are just trying to get intell from the community. I doubt Bess plans on updating this entry and rather expects the street to fill in the blanks as the day goes.
Posted by guest , May 27, 2009 1:53PM
@tax chick- actually, she generally does update these.
Posted by wcburrs87 , May 27, 2009 1:58PM
@5, because the good looking ones will be pulled into Obama's Youth Workforce Camp!
http://money.cnn.com/2009/05/27/news/economy/stimulus_summer_jobs/index.htm?postversion=2009052712
Posted by guest , May 27, 2009 2:02PM
@12- you just linked to a "money + main street" story. hang your head in shame.
Posted by wcburrs87 , May 27, 2009 2:04PM
@13, I will not. I posted it mocking it, not citing it.
Posted by guest , May 27, 2009 2:11PM
what does lev fin given there is zero sponsor business
Posted by Tax Chick , May 27, 2009 2:16PM
@11 - Even if she does, no need to be hostile. My point was for "guest" to chill. The questions were reasonable... unlike the "i am an idiot, why didn't the doctor slap my mother" comments that are often posted (see @4)
Posted by guest , May 27, 2009 2:28PM
A "wcburrs87" posts at other places as well. To wit:
http://www.rivals.com/rfFan.asp?User=873772&Post=
Posted by guest , May 27, 2009 2:32PM
@7...if you're gonna make fun of hedge fund managers...please be funny...come on...next time, just be a little funny....i'm busy over here...
Posted by wcburrs87 , May 27, 2009 2:41PM
I post on Philly.com as well. I am a busy guy who loves stocks, stats, and sports.! Especially Rodney "Lean Machine Green"
http://www.philly.com/philly/blogs/phillyhoops/45043657.html
Posted by guest , May 27, 2009 3:20PM
@ 18 FTW!!!!!
Posted by guest , May 27, 2009 3:21PM
I knew some individuals in the BarCap tax dept who were cut.
Posted by guest , May 27, 2009 5:11PM
@21 knew some? was their severance package an execution package?
Posted by Anal_yst , May 27, 2009 5:11PM
@15
Just guessing they may be gettin in on some refi business, mid-market, and lots of hopeless pitching/modeling
Posted by guest , May 27, 2009 5:49PM
Barclays sucks....can people really be proud to say that they work there? Word to potential recruits...it's all about working at big names like GS, MS, JPM, CS, etc. The Lehman name is lost. Who wants to work at Bardump?
Posted by guest , May 27, 2009 8:55PM
@24 wow original.
one month salary and thats it plus a tiny lump sum... also mainly laying off legacy barclays people and keeping the smarties who went to colby. good move.
Posted by guest , May 27, 2009 9:01PM
@24- you gave yourself away as an idiot by citing Credit Suisse as a big name. You think people would be more "proud" (your word, tool) to work there than Barclays? Buy a clue.
Posted by guest , May 28, 2009 3:09PM
#25 - your comment clearly shows you are a "heritage Barcap employee". As I am an ex-Lehman - on my way out, thank heaven - I can say that people ARE trusly ashamed to be affiliate with Barclays. It is a such a low-class s-thole that even "heritage Barclays" employees have very little positive to say about their own firm. And even in current market situation ex-Lehman people are leaving en masse.
Posted by guest , May 28, 2009 3:09PM
#25 - your comment clearly shows you are a "heritage Barcap employee". As I am an ex-Lehman - on my way out, thank heaven - I can say that people ARE trusly ashamed to be affiliate with Barclays. It is a such a low-class s-thole that even "heritage Barclays" employees have very little positive to say about their own firm. And even in current market situation ex-Lehman people are leaving en masse.
Posted by guest , May 28, 2009 8:02PM
@27 - I am a legacy lehman and although I am leaving after this year (going to buyside) I can say categorically that most legacy lehman people are not leaving. although we all wish that we were still lehman, our jobs were saved and we were able to do things pretty much the same way we had before september. And although I would never admit this in person, face it: nobody at GS or MS considered us to be on par with them, so drop the attitude.
Posted by guest , May 28, 2009 11:24PM
#29 - LOL, they are not leaving now because majority of most able ones have already left! And - just an FYI - GS and MS picked up droves of people, right after September 15th, most able and talented ones. The rest went to: Nomura, Chase, CSFB, hundreds went to Citi and many smaller firms with great names. And on the subject of being able to do things just the way you did them before: check out your desktop and your tools before you say that. You are now expected to work with Lehman efficiency but without any of Lehman tools, infrastructure or talent. Just with your bare hands. Lehman might not have been GS but it was a world away from being Barclays.
Posted by guest , May 30, 2009 1:03PM
@30 you have no clue what you are talking about, we are in the same seat and have the same tools (looking at my desktop now)