Cuts going down circa now.
“BarCap US IBD layoffs kicked off this morning — the Global Finance target is around 10% of headcount, affecting all levels. London employees got the ax a few hours ago.”
BarCap, Barclays, IBD, Layoffs
Yikes. Sorry kids. Grab a shovel. $40/driveway.
Well, that’s one way to pay Bob’s bonus.
Well I just got pink slipped. Will there be any strippers at Beamers? I am now free this afternoon.
Or will they all be shoveling the NASDAQ? That will cap a perfect day.
Now Ex-BarCap Guy.
Oh, and UBS sucks.
these clowns either run too hot, or too cold. I don’t think there is a quarter in which they aren’t either hiring or firing en masse.
Cuts seem to be at the top end – MD’s and Directors, with a smattering of Analysts.
hearing DB is blocked there
just got the axe. Not even that upset about it.
Hi Mike, I really wanted to do this face to face, but this snow has caused some transportation issues today. I’ll cut to the chase, you are being given the opportunity to explore alternative career avenues outside the firm. Kthanksbye.
Couldn’t have happened to better people.
I blame the Juan.
I would appreciate it if the affected persons did not look for job right away and instead go straight to the “discouraged” worker group. My approval ratings can’t take an increase in the unemployement rate at this time. Thanks.
This news cheers me up.
– Professor Krugman, Princeton Economics Professor, NY Times Columnist, Nobel Prize Winner, Asshat
You’re angry and upset. You’r feeling betrayed and abandoned. I’ve seen it a thousand times and each time I see it I see the seeds of great personal success land on people. Why don’t you? Because you never thought this is how success starts. Success starts in many ways. You just had success slap you in the face. You are some of the the luckiest people on this planet and you don’t even know it. As you grab your things and put them into the cardboard box provided by security, remember this: You just won the personal success lottery.
114th and Dodge Street
Let me add a few things to what Ryan just said. (Pause for effect) You know, not everyone is a genius in this business as 2007 – 2010 showed. Over-arching suboptimization during that period buttressed skill bucketing in the 3rd quality derivative space. Those of us who deploy intellectual assets in the daily march of high frequency decision matrixing have personal “algorithms” to follow as evedinced by interpersonal due diligence in co-locational psycho-settings like home and work. IE, ergo, to wit and viz, if we drill down into what has just happened at BarCap we can whipstock personal emotional frac zones into sand tolerant emotion flooding al a low royalty rate. Why just the other day I was in an unemployed person’s presence and I asked him if he lived by any certain “motto” and he said no he lived by a 7-Eleven and I said that’s not what I meant, did he follow and sort of creed and he said that living in thee city kept him from following streams or creeks and I said no, not creek, creed and he said what’s that and I said it’s, you know, something that you follow and he said he had to go and so I don’t think I’ll be hiring him because he doesn’t know what to follow or map in the event of juxtapositional resurgence of long dated employment needs.
Thanks for letting me comment.
Things suck, layoffs and the repo man is taking the bird
Did BarCap used to be Lehman?
Lost in Space
They should have seen this coming a mile away! Take note! This is what happens to traitors who pledged allegiance to Lehman and continued to work dilligently for BarCap…
Anyone worth their salk, and with a bit of backbone, will have sunk with the ship and moved on to Nomura or create their own hedge fund in Greenwich, Conn.
Buddy got it today, is it true no bonus? Unless in a contract somewhere, I guess they could get away with that.
Is this the 10% layoff or the 200 layoff?
Funny how the whole firm knew it was to be on MON and then rolled to WED. WideClops having a nice post steak dinner now.
I observed that Barcap seems to have axed a high percentage number of women this round. Of the people I know there, I know of 4 women who got laid off and only one man. The the ratio now gets to be 99.999% men to .001% women.
My group took a 25-30% hit. No real bonuses, but the elevated base salaries continue for a while.
what group? any idea if this layoff is over or when it will?
Also interesting to note that BarCap gave 8 offers at our bschool yesterday for their IBD summer associate program. In and out.
aGjD4n Thank you for your article.Really thank you! Really Cool.
Bonus Watch ’16: Local Hooker Should Be Getting Paid Extra For This
You want to b*tch about your bonus? That’s another $500.
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