Layoffs Watch ’12: Investment Bankers, Everywhere

Gird your loins, which have apparently gotten a free pass for too long.

Having already slashed bonuses, banks including Citigroup, Goldman Sachs, J.P. Morgan Chase, Morgan Stanley, are preparing to cut dozens of jobs, including some held by senior bankers, according to people familiar with the matter. As they pursue this targeted round of trims as soon as next month, they and rivals are also revisiting profit expectations for their advisory businesses, people familiar with the matter said. Until recently, Wall Street’s ax had largely fallen on trading desks, which shed thousands of jobs as business dried up due to regulations and lackluster markets. But the cost-cutting focus is now expanding to deal makers and corporate advisers that have remained among Wall Street’s most high-profile professionals even as their contributions to banks’ bottom line has been dwarfed by traders. In addition to mergers-and-acquisitions advisory, investment banking includes raising capital through stock and debt.

Wall Street Gets Lean [WSJ]

(hidden for your protection)
Show all comments

58 Responses to “Layoffs Watch ’12: Investment Bankers, Everywhere”

  1. The Sword says:

    Couldn't happen to a nicer bunch…..too bad D-Bags!

  2. guest says:

    …and Greyhound starts advertising $1 fares on Dealbreaker

  3. investorcluzo says:

    "But the cost-cutting focus is now expanding to deal makers"

    we haven't done a deal since '07, looks like we're safe!
    -UBS [Redacted] Group Head.

  4. larry says:

    they are assholes anyway

  5. Ax to Grind says:

    Bank of America…..YOU SUCK DICK

  6. Guest says:

    "dozens" of jobs? Did he say DOZENS? That means like, over ten! Maybe even over twenty! That's it….I am shorting the manhattan real estate market.

  7. Anon says:

    Targeted round of trims with my Braun. Gold bond powder. Yeahhh. Yeeaahhhhh.

    –Guy who had a random inner monologue

  8. nothing personal says:

    if you make more than your IT guy AND you don't help your boss keep his job, you're a target

  9. Guest says:

    There's only two things I hate in this world; people who are intolerant of professionals in the financial industry and the Welsh.

  10. JimmyG says:

    Bloodletting? I can help with that.

    – pen knife in darien

  11. UBS FICC Trader says:

    'Bout damn time.

  12. Fraupette says:

    dqzkxntm [url=]sac longchampm[/url] wqvlheef longchamp pliage pas cherw rcuwpfqr

  13. Scupaspinna says:

    wxrlkorv [url=]gucci outlet[/url] qxbhqpcgfb kbsiiaut [url=]ray ban outlet[/url] zgybnbhlhk

  14. bmfklhvk [url=]sac louis vuitton pas cher[/url] puardxorwe kncqxxlr [url=]casque beats by dre[/url] azhgzjudzk tpmcljok [url=]polo ralph lauren[/url] qynutvqtys

  15. blzqudel [url=]hogan scarpe[/url] klmxwcq hogan scarpe nznbecbi [url=]sac louis vuitton[/url] zklersw sac louis vuitton ppzajvgt

  16. sqdcbmtc [url=]sac longchamp pliage[/url] pueqji sac longchamp pas cher pufxuaot [url=]franklin marshall[/url] jbylqn franklin marshall fnanqdhz

  17. Arrivatriva says:

    bvpatbop [url=]louboutin[/url] kcjukujh louboutin erwypsnp

  18. a5oYF3 Im grateful for the article. Great.

  19. I really like and appreciate your blog post.Much thanks again. Want more.

  20. hosting says:

    Enjoyed every bit of your blog.Thanks Again. Want more.

  21. eye says:

    Thank you ever so for you blog article.Really thank you! Want more.

  22. I value the blog post.Thanks Again. Much obliged.

  23. dieta dukana says:

    I really like and appreciate your post.Really thank you! Really Great.

  24. Say, you got a nice blog post.Thanks Again.

  25. Awesome article post.Thanks Again. Much obliged.

  26. I really enjoy the article post.Really thank you! Keep writing.

  27. gw2 gold says:

    What i do not realize is in fact how you’re not really a lot more neatly-favored than you might be now. You’re very intelligent. You recognize thus significantly when it comes to this topic, produced me for my part believe it from so many various angles. Its like women and men are not involved except itˇs one thing to do with Lady gaga! Your personal stuffs great. All the time maintain it up!

  28. wow gold says:

    Thank you for the good writeup. It in fact was a amusement account it. Look advanced to far added agreeable from you! However, how could we communicate?

  29. Thanks a lot for the post.Much thanks again. Awesome.

  30. Awesome article post.Really thank you! Want more.

  31. Thanks for sharing, this is a fantastic article post.Really looking forward to read more. Want more.

  32. Enjoyed every bit of your article.Really thank you! Keep writing.

  33. bloghover says:

    Thank you ever so for you article post. Awesome.

  34. Appreciate you sharing, great article.Really looking forward to read more. Great.

  35. web traffic says:

    I really like and appreciate your article post.Much thanks again. Awesome.