Very supposedly layoffs are planned to go down "some time this week, possibly as early as today" at DE Shaw. Apparently, not to worry, the cuts "will not affect any A-team players. This is just a cutting of fat." Given that the firm went through axings as recently as June ("a result of efficiency right-sizing analysis") we're skeptical. If you (David) know anything, let us know.
Earlier: Diabolical Genius At DE Shaw
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Posted by guest , Aug 25, 2009 11:47AM
""will not affect any A-team players. "
what a complete and total douche
Posted by guest , Aug 25, 2009 11:50AM
@1 spoken like a member of the b-team
Posted by guest , Aug 25, 2009 11:53AM
dave, I hope your layoffs go well
Posted by guest , Aug 25, 2009 11:55AM
I love it when a plan comes together.
- Face
Posted by guest , Aug 25, 2009 11:56AM
@4 what the hell does that mean
Posted by guest , Aug 25, 2009 11:57AM
I"ve heard the same thing.
-lenny dykstra
Posted by guest , Aug 25, 2009 11:59AM
@5 it means the conversion of the farmer's chicken truck into a rocket-firing armored personnel carrier is just about complete.
Posted by guest , Aug 25, 2009 12:00PM
I love the smell of firings in the morning
Posted by guest , Aug 25, 2009 12:00PM
@4 is showing his age. Put it away.
- Mr. T
Posted by guest , Aug 25, 2009 12:01PM
@9 or in my mouth.
-sw
Posted by guest , Aug 25, 2009 12:02PM
@5 get with the program, fool.
also, de shaw had put on a lot of weight recently due to excessive blueberry pie eating contests. plenty of fat left to be cut on this chubchub.
Posted by guest , Aug 25, 2009 12:03PM
@11 i don't know why but "chubchub" made me laugh.
Posted by guest , Aug 25, 2009 12:05PM
I pity the fool who incorrectly attributes Hannibal's famous tag line to Face.
Posted by NakedShort , Aug 25, 2009 12:09PM
Golf shirts, hats, fleeces now on the Handbridge Capital Store
Posted by guest , Aug 25, 2009 12:17PM
@13 I couldn't remember Hannibal and was too lazy to Google from my IPhone. Senility and all that.
Posted by Mark Klein MD , Aug 25, 2009 12:19PM
It makes sense that a firm that relies entirely on computers to make high frequency trades of dark pools is laying people off. It could be one of two things: they just bought more computers or the downturn is affecting them as well. After speaking with my Senator, he assures me that it won't be too much longer until this whole firm is out of work.
Posted by Anal_yst , Aug 25, 2009 12:22PM
@Mark Klein MD
Please GTFO, you are even more out of your element here than you were on NY Times Dealbook.
Believe it or not, I say this for your own good, because I'm alot nicer (for now) than the rest of the sharks (with lasers and mean coke habits)
Posted by guest , Aug 25, 2009 12:24PM
That doesn't make any sense whatsoever, for numerous reasons. Who ist this Mark Klein MD gal and why is she allowed to post here?
Posted by Seaman Bodine II , Aug 25, 2009 12:31PM
@16
douche-nick-dennis-kneale-glory-hole-stain
shaw fires 1/3rd of the firm every 4 years...has more to do with expanding into markets it has no real core competency in, due to printing money in areas they pretty much invented
Posted by Seaman Bodine II , Aug 25, 2009 12:35PM
Bigger Douche?
Mark Klein MD
or
Seaman Bodine II
Posted by guest , Aug 25, 2009 12:40PM
@19 nailed it. And my guess is that with everyone and their dog and their dog's pet Hadassah CFO wanting to get into HF trading, the resulting profit compression means that sort of style drift across the industry is just beginning.
Posted by Seaman Bodine II , Aug 25, 2009 12:41PM
@21 it would scare some to know i survived one of these "iterations" at desco in 98
Posted by Investorcluzo , Aug 25, 2009 12:42PM
I pity the fool that is not on my team...(take that @5 and @1)
Posted by guest , Aug 25, 2009 12:42PM
they have more than 1,000 people. they cut people every year in areas where their "experiments" are not bearing fruit. they have enough spare cash they can afford to hire some people and see what pops up. usually nothing does and then DE cuts them.
Posted by guest , Aug 25, 2009 12:44PM
@20
That's a toughy.. Guy who calls himself "MD" or guy who calls himself "II"? In my opinion, MK MD is more of a tool, and you're more of a douche.
Posted by Seaman Bodine II , Aug 25, 2009 12:45PM
@25
i locked myself out of the original seaman bodine account
so, how does that knowledge affect your assesment?
Posted by guest , Aug 25, 2009 12:46PM
oh for the love of God, don't let that MARK KLEIN MD guy start posting on DB ---- every f'ing post at Dealbook....there he was with an asinine comment
Posted by Tax Chick , Aug 25, 2009 12:51PM
@SBII - Definitely some loser using the MD moniker on a finance site.
Posted by guest , Aug 25, 2009 12:54PM
The reason they didn't cut any "A-team players" is because their a-team is made up of the servers and algos used to trade. At the Shaw the fat refers to anyone that needs oxygen to survive. It's like iRobot, but without Will Smith making faces and going "whoo".
Posted by guest , Aug 25, 2009 1:02PM
They're oh so sophisticated algos like selling the S&P vol skew or buying order flow from Schwab? How do these guys stay in business? Is Jeff Bezoz funding them with Amazon converts?
Posted by guest , Aug 25, 2009 1:02PM
@26
Still a douche.
Posted by Seaman Bodine II , Aug 25, 2009 1:02PM
@29
actually, it's one of the most "human" places to work, not just in finance, but across any industry
Posted by guest , Aug 25, 2009 1:03PM
I interviewed with DE Shaw. They handed me an exam with a bunch of abstract questions and logic nonsense. I balled it up, threw it at the HR subhuman they had administering the test to me and then took down one of each item in the nearest vending machine.
Needless to say,
CEO of a Hedge Fund
Posted by guest , Aug 25, 2009 1:03PM
@29...have you ever worked at a HF Trading firm? Because you sound like you don't. It takes people to build the algorithms, oversee the trading, and code the systems. We haven't gotten to Terminator-esque self-aware HF trading systems yet.
Posted by guest , Aug 25, 2009 1:07PM
new Michael Vick t shirt
http://rlv.zcache.com/vicks_an_eagle_beagle_tshirt-p2350902070721052893grm_400.jpg
Posted by guest , Aug 25, 2009 1:19PM
sbII you suck harder than a nilfisk, you suck harder than taxchick sucks cluzo's dick and he told me she sucked it so hard it was an inch longer when she was done.
Posted by Tubby , Aug 25, 2009 1:42PM
And yet amazingly enough, they currently have 4 jobs posted on the recruiting system at my undergrad...
Posted by guest , Aug 25, 2009 1:43PM
Total victory by @ 33!! Well played!!
Posted by guest , Aug 25, 2009 1:46PM
@37 not that amazing, actually pretty standard.
ps stfu, college!
Posted by guest , Aug 25, 2009 1:53PM
33 was epic
Posted by guest , Aug 25, 2009 2:22PM
this mark klein guy wouldn't know a convertible bond from a convertible car. get it???
- Jefferies SVP
Posted by guest , Aug 25, 2009 2:36PM
I get the feeling that Mark Klein MD and a few others just escaped the ZH peanut gallery to come here to play. Or did this guy used to work for Jefferies & Co?
Posted by Anal_yst , Aug 25, 2009 3:22PM
@42
Just hope the Denninger tin foil crowd doesn't make it over here
Posted by guest , Aug 25, 2009 3:42PM
@22 You survived a housecleaning at Desco, the vacuum parts distributor?
Posted by Seaman Bodine II , Aug 25, 2009 5:03PM
gay gayer gayest
(1) seaman bodine II
(2) mark klein md
(3) comment @44
Posted by guest , Aug 25, 2009 6:47PM
Jefferies SVP = Stupid Vlad Portnoy or Branko Stojanovic
Posted by guest@33 , Aug 29, 2009 2:10PM
venidng machines? really?
your story just lost crdibility. there are no vending machines at Shaw. all food/drinks are free on prmeises....
Posted by guest@33 , Aug 29, 2009 2:10PM
venidng machines? really?
your story just lost crdibility. there are no vending machines at Shaw. all food/drinks are free on site at Shaw....
Posted by guest , Aug 29, 2009 3:52PM
dumb ass @47/48-- where in the story does it say anything bout vending machines? it doesn't? anywhere? kill yourself.
Posted by guest , Aug 29, 2009 3:55PM
@49 it seems 47/48 was referring to the comment @33 which does reference vending machines. 47/48 is still a douche though, since it was A GOD DAMN JOKE, referencing all the food eating contests that were going down the day this story went up.
Posted by guest , Sep 01, 2009 3:25PM
Does Bess get paid for this horse-crap? because I can conjure up random things, call them unfounded rumors, and then put quotes around things as well....sounds like a sweet gig!
Posted by guest , Sep 01, 2009 3:26PM
51 = de shaw hr, over a week late to the damage control game.