Nothing official yet but apparently various people’s contributions to the firm (or lack thereof) are being weighed.
“RBS is planning another round of cuts for 1Q12. Right now they’re figuring out which businesses they want to remain in. Then the ax falls.”
2:20 PM, Matt should have cooked something up by now. What type of surprise are we in for this afternoon?
Couldn't this be said about pretty much any bank?
This is not limited to banks my friend. I see that Cargill, Inc. , the largest privately owned company in the world with some 150,000 employees and operations in 138 countries according to their website, is in the process of laying off 2% of their worldwide workforce. Cargill knows everything, everywhere and frankly I think this story is a harbinger of where the world economy is going next year …..and beyond.
thanks for the hot tip, Buzz Lightyear
Can you smell what the Rock is cookin?
Does anyone know the difference between WACC and IRR?
Sorry, no help here.
-UBS M&A MD
Pretty sure the former is an NCAA conference and the other is a former Soviet Republic up near Poland or some such place.
- UBS acronyms quant
Awesome tip….hopefully that wasn't considered MNPI, cause I can't wait to short them.
- UBS Equity Trade and CFA Level I candidate
If you hold on for just an hour or three, I can call my son and get him to explain.
- Matt's mom
Comment of the day. Just light traffic out there
I see what you did there.
Bravo.
The definer of acronyms position has gotta be pretty secure though, right?
They are both fictitious benchmarks that no one can really calculate. Just like your FICO score.
woooo
- rbs analyst, non-core asset strategy
“I believe that we should grow our strategic businesses, you know, the ones that are um, part of our strategy, and um, we should probably get out of other businesses that are less strategic, you know good business and all that, but um, maybe not as strategic as other businesses….Brian here will explain more about what I just said.”
–Minutes of 2006 RBS Board Meeting
What most don't know is the verbage included in the separation package they are offering employees. Now, that would be news!
standard general release / separation agreement wording, and 2 weeks pay per 1yr of service – expectedly crappy package from this bucket shop.
Wonder if it beats Nomura's generous 2 week sevy + 2wks/yr service.
- back in the 99%
Yep…we all know HR is a nightmare. Wait until you deal with RBS's…been there. Dealing with AT&T customer service is more pleasant and efficient.
O yeah…you're going to get shafted in your package, but that's to be expected.