Earlier this week, it was reported that RBS would be taking the next couple months to decide which businesses it wants to “remain in” and which it doesn’t. Management was said to be considering “shutting or selling” its equities unit and, as these things go, laying off the 1,000 people it employs, as well as others who may find themselves working in a division the royalest bank isn’t so keen on anymore. As humans tend not to look on the bright side of potentially getting fired, the staff has been in a bit of a funk lately. Hearing the team needed some frowns turned upside down, Global Banking & Markets CEO John Hourican sent out a memo this morning attempting to do just that, by noting 1) that everything everyone’s read about layoffs and the closing of entire business units is true, but that all that was communicated, like, a couple months ago, so let’s not act like it’s coming as a shock 2) everyone in finance is making tough choices right now 3) obviously, though, we’ve had our teeth kicked in harder than most 4) contrary to popular belief, we’re not just putting your names in a hat and deciding who gets fired from there 5) Happy holidays. Do something nice for yourself, you deserve it. Continue reading »