Get a jump on packing up your belongings, because according to Whitney, 100,000 of you are done here.

The US financial sector is facing an epic round of layoffs that could hit 100,000 workers as the big banks wrestle with a global contraction and a sluggish economic recovery in the US, according to prominent analyst Meredith Whitney. “We are on the precipice of a seismic down-sizing on Wall Street, the likes of which have never occurred before,” Whitney wrote in a recent research note to clients. Whitney estimates that financial firms may have to slash at least 15 percent of their work force over the next 18 months to replace shrinking revenue.

Analyst Sees Big Wall Street Layoffs Ahead [NYP]

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Comments (27)

  1. Posted by the truth | August 8, 2013 at 12:29 PM

    Times are so tough, she's copying and pasting her 2008 notes

  2. Posted by guest | August 8, 2013 at 12:33 PM

    gotta give her credit, not many people can stay relevant that long after having one correct call

  3. Posted by mrp | August 8, 2013 at 12:39 PM

    I just hope I'm still around when my DB Koozie arrives in the office

  4. Posted by Barry | August 8, 2013 at 12:50 PM

    Winner of the Elaine Garzarelli One Hit Wonder award.

  5. Posted by Guest | August 8, 2013 at 12:58 PM

    She doesn't exactly have a lot of help left at MWA to get new notes out.

  6. Posted by Rihanna's Forehead | August 8, 2013 at 1:00 PM

    She was talking about her own firm…

  7. Posted by guest | August 8, 2013 at 1:16 PM

    I like her style

    – J Shazar

  8. Posted by Gov of Alaska | August 8, 2013 at 1:16 PM

    She has a 100,000 employees? Who knew.

  9. Posted by guest | August 8, 2013 at 1:26 PM


    – J. Paulson

  10. Posted by Lowly Assistant | August 8, 2013 at 1:29 PM

    It's called "repurposing" dick nose.


  11. Posted by guest | August 8, 2013 at 1:45 PM

    I wish she could downsize her mouth and slash her ass.

  12. Posted by Al Czervik | August 8, 2013 at 1:52 PM

    I don't think the heavy stuff is going to come down for some time, Sir.
    – C. Spackler

  13. Posted by Doodie | August 8, 2013 at 2:12 PM

    And got this report out AFTER the layoffs because she only had one employee left.

  14. Posted by OpportunityCost | August 8, 2013 at 3:31 PM

    Keep playing that contrarian card, MW. A broken clock is right twice a day, amirite?

  15. Posted by Owen Wilson | August 8, 2013 at 3:50 PM

    Easy with the "dick nose" OK?

  16. Posted by Macquarie MD | August 8, 2013 at 7:18 PM

    Macquarie is hiring. MW must be wrong.

  17. Posted by Wakka Wakka Wakka | August 8, 2013 at 8:41 PM

    Can't you see them from your back yard?

  18. Posted by U Jelly? | August 8, 2013 at 8:42 PM

    Still better than you get

  19. Posted by tomlind | August 9, 2013 at 12:42 AM

    Sounds like a lot of industry participants here whistling past the grave. What if she's right? Does NY follow Detroit and Chicago down the tubes?

  20. Posted by TheodoreBallgamePhD | August 9, 2013 at 10:35 AM

    You've been reading my mail.

    -P. Falcone

  21. Posted by davidrusso | August 9, 2013 at 11:32 AM

    – Nouriel Roubini

  22. Posted by Guesti | August 9, 2013 at 12:39 PM

    If I was the CEO of any buldge bracket I wouldn't fire a single person just to make sure she was wrong

  23. Posted by guest | August 9, 2013 at 2:13 PM


    – Keith McCoolah

  24. Posted by Jef | August 9, 2013 at 2:51 PM

    Either way, Layoffs are coming. There is no sector or area safe from layoffs in today's economy

    Full Layoff List

  25. Posted by Ashley Dupre | August 9, 2013 at 10:50 PM

    I hope she is right.

    – Waiting to close on a lease in FiDi sometimes in 2014.

  26. Posted by Mack | August 9, 2013 at 10:56 PM

    Well, this kind of thinking pretty much assures that you will never be a CEO of anything. A good CEO would layoff 11% of workforce in 9 months (instead of 15% in 18 months) to show how wrong she was.

    – Mack the Knife.

  27. Posted by Dead_cat | August 12, 2013 at 12:43 PM

    How is 15% a "seismic down-sizing on Wall Street, the likes of which have never occurred before"?

    My institution (and indeed most big banks) tend to fire about 30% as a reflex every time they have a bad dream. It makes CEOs feel safe and comforted.