No more long, dragged out firings. No more dread-filled days wondering if HR is coming for you and, if so, when. If you’re a Barclays employee set to be canned, you’re getting canned A-SAP.

Barclays may begin handing out pink slips this week to some U.S. staffers in its investment banking division in an accelerated fashion meant to avoid the drawn-out process that characterized past job cutting, a person close to the situation said. Last year, people earmarked to be laid off first went through performance reviews, then were told they would get no bonuses and were ultimately let go, said one source at the bank. It was a month-long process, said the employee. This year, the layoffs in the U.S. will happen before performance reviews and bonus discussions. The employee said the accelerated cuts will likely happen globally…Barclays “did a terrible job of layoffs last year, which really hurt our recruiting efforts and the overall impression about the strength of firm,” said the employee, who asked not to be named. This time around, people will be let go before any compensation conversations occur to eliminate the feel of having “dead men walking,” said the employee.

Barclays to Avoid ‘Dead Men Walking’ in Layoffs This Week [eFinancial]

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Comments (14)

  1. Posted by IT Expert | January 22, 2013 at 1:06 PM

    you forgot to feed the hamster again.

  2. Posted by Gunthar | January 22, 2013 at 1:26 PM

    " to eliminate the feel of having “dead men walking,” ?!
    Is there any other feeling?

    -UBS staffer

  3. Posted by guest | January 22, 2013 at 1:27 PM

    Yeah? And you were able to read/post that comment how?

  4. Posted by Suggs | January 22, 2013 at 1:32 PM

    Dat hamster be throwin shade all over you, son!

  5. Posted by Guest | January 22, 2013 at 2:08 PM

    So they are going to lock my wife away then?

  6. Posted by IT Expert | January 22, 2013 at 2:30 PM

    Right. Because thing X works, that must mean that thing Y works too.

  7. Posted by UBS HR | January 23, 2013 at 4:27 AM

    Thats a shame, we always do a great job with our layoffs.

  8. Posted by John | January 31, 2013 at 7:20 PM

    still hasnt happened yet

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  12. Posted by sohbet | March 24, 2013 at 2:20 AM

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