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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thank god bella isn’t here to see this.
Well, at least the summer is just around the corner.
2009 will be the absolute worst looking interns ever. thats a wcburrs87 guarantee.
Hello peeps! I am a hedge fund manager. do tell, what is LevFin??
@wcburrs- reasoning behind that?
@4- if you’re going to use the “i am a [insert here],” be funnier.
what other groups? tmt? financial sponsors? west coast offices?
does anyone know if other groups like DCM/ECM are getting it as well?
@7- you’re being told the groups that are known. if tmt had been axed, it’d be included there. got it?
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.
@tax chick- actually, she generally does update these.
@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
@12- you just linked to a “money + main street” story. hang your head in shame.
@13, I will not. I posted it mocking it, not citing it.
what does lev fin given there is zero sponsor business
@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)
A “wcburrs87″ posts at other places as well. To wit:
http://www.rivals.com/rfFan.asp?User=873772&Post=
@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…
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
@ 18 FTW!!!!!
I knew some individuals in the BarCap tax dept who were cut.
@21 knew some? was their severance package an execution package?
@15
Just guessing they may be gettin in on some refi business, mid-market, and lots of hopeless pitching/modeling
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?
@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.
@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.
#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.
#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.
@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.
#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.
@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)