Layoffs Watch ’10: Barclays Cuts Coming?

Apparently yes.

We’re told BarCap will be laying off 5-7 percent of the staff, across the board, at all levels, at some point in the next two weeks. The cuts are expected the Monday after Thanksgiving. That’s all the info we have now (if anyone has anything else to add, please do so at this time).

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48 Responses to “Layoffs Watch ’10: Barclays Cuts Coming?”

  1. tits says:

    This is why you should never join those clowns. I ran a mile …

  2. Guest says:


  3. Guest says:

    Consultants must have recommended doing it before the tryptophan wears off

  4. Guest says:

    We’ll Make those Lehman people leave one way or another……….., now back to my 10 footer for birdie at Pebble Beach

  5. j. ames says:

    Obviously times are tough, Bobby D is sporting an Odyssey…

  6. Guest says:

    Why are you staring at his putter?

  7. Beenthere says:

    BarCap is now BarCut

  8. 911call says:

    Hi, I’d like to report a disturbance… there is this fella with a cane defecating on my lawn…

  9. Guest says:

    Barclays Capital would never have made a profit
    Barclays’ investment banking arm would never have made an economic profit under new bank capital rules being introduced.

  10. Quant_Wannabe says:

    1 bond shop + 1 bankrupt bond shop = 1 over staffed bond shop

  11. Diesel7 says:

    Nice, right before the holidays. Good form.

    Place is a bucket shop anyway. I nailed the 747 ping pong ball at my GS interview yesterday btw, I’ll be at minettas tonight celebrating. i will be wearing the beanie with the propeller on top and a red bowtie

  12. Guest says:

    Other bulge brackets will be doing the same before the year ends.

  13. Diesel7 says:

    Really genius? Which “Bulge Brackets” are you referring to? There is no such thing anymore

  14. Guest says:

    Rumor has it that IT managing directors to be particularly hard hit. Ouch!

  15. JGWentworth says:


  16. Homosaurus says:

    I thought the number of circumcisions was going down?

  17. Guest says:

    what the hell does that mean?

  18. Anonymous says:

    Is this standard end of year layoffs or economic related?

  19. Guest says:

    keep up with the news/barcap’s performance of late?

  20. Pfluger the Barbarian says:

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    If you are a proven performer, a self-starter with an ability to thrive in a fast paced, collegial environment, consider JT Marlin. We are conveniently located off of Exit 56 of the LIE, just across from the Dunkin Donuts.

  21. dollar_dom says:

    30 lashes for you.


  22. TheLimey says:

    My balls always seem to get bigger when there are layoffs afoot.

  23. Tinnwyld says:

    As goes barclehs, so go the others …

  24. TGFD says:


    Thanks for the link to the UK Telegraph article. In the comments to that article, a guy named ‘jonnysingapore’ wrote a particularly scathing one about Barclay’s. It is well written and heartily endorsed by TGFD.

    The Guy from Delaware

  25. tits says:

    UBS calling out BarCap is the new killing it.

  26. Seaman Bodine says:

    what do you expect, with such an ethnic name

  27. Doode says:

    Very interesting article – did UBS review Lehman business model as well? Obviously the BK of 2008 seemingly makes the answer obvious, but many Lehman units outside of mortgages were very profitable and were picked up by Barcap.

  28. Anonymous says:

    to be honest not really, I know their i-banking results were weka in the last quarter, it isn’t a shop I know well

  29. Guest says:

    What does this mean for 1st year CEOs?

  30. guest says:

    We can only hope that The Best Lawyer on Wall Street (in his mind ) Steve Berkenfeld makes the cut list this time!

  31. Bozo says:

    That’s your problem. We can’t run very well in these big shoes.

  32. Someone Who Was There says:

    Only if he can spend some more tan with his fake tanner.

  33. Someone Who Was There says:

    And by tan, I mean time.

  34. anon says:

    Has wideclops been put on retainer?

  35. Rho2Gamma says:

    A bonus for cutting the bottom line. Best part is the bonus > amount saved in cuts.

  36. Level 1 candidate says:

    Why would you want to cut the bottom line?

  37. Anonymous says:


  38. 745er says:

    My boss has been real shady the past few weeks. I am so fucked

    (I am being serious)

  39. Destiny's Child says:

    I been working in Barclays for past 4 years. Never saw the large number of Managers getting added, like it happened this year.
    More coming in, more going out….
    I see lot of hiring at Mgmt layer, while entire help desk team vanished, real hard working executors are laid off. The manager are not even money/business bringing worthy people. Just expensive fat layers who earn money same as 10 hard working real employees!!!

  40. JOHND says:


  41. H23juy says:

    Funny enough, rumor has it that Kunows secret (that he is worthless other than sitting in his office making up “TERMS OF THE WEEK) is out. Real great way to spend the Banks money on staff who should be supporting traders rather then presenting terms that have nothing to do with their jobs. GREAT VALUE ADD THEIR PAL.

  42. Simon says:

    They definitely have added more IT management than is really needed. The manager-executors ratio seems to be 2-1 instead of 1-4. An executioner needs to report status to 2-5 managers, that tells you much about the company productivity. Cuts are needed, just in the right places!

  43. 452211 says:

    Your absolutly right., I was laid off 2 years ago after 10 years. I was responsible for 3 areas and learned that after i was laid off they brought over 3 Lehman managers to do the job I was doing all myself.

  44. Susan M says:

    @ Kunow/Skunakis comments. I am a director at Barclays on the Equities side. IT is certainly missing any type of support structure. I see these guys running around like chickens without heads and no real leadership. After speaking with some of the techs it always seems to point to Kunow and Skunakis. I suggest IT makes some changes to its management structure in order to secure the value of their IT Dept. Isnt this why a lot of companies outsource their IT departments? No Value in the management nor the support they are providing.

  45. OjTKiI Appreciate you sharing, great blog.Really looking forward to read more. Really Great.

  46. lMFPPs Muchos Gracias for your article.Really thank you!