layoffs or lack thereof

Billionaire hedge fund manager Steven A. Cohen may see the last of his outside investors ask for their money back by midnight on Friday…The departure of outside capital gave rise to speculation that SAC might turn itself into a family office, consider making layoffs or scale down the size of its operations. The firm has told employees this will not be the case. SAC President Tom Conheeney told employees in a recent email that the firm will have as much to invest at the end of this year as it did at the end of 2009. [Reuters, earlier]

Great news for anyone who’s been sitting nervously at their desk at Morgan Stanley the last few days, wondering whether or not their boss was about to tap them on the shoulder to go have a chat with HR: if you’ve made it this long, you’re safe! There will be no more human layoffs for the foreseeable future (plants may still be at risk). Read more »

Rumors began to circulate late last year that Jefferies could be acquired by a large bank, something that would surely result in layoffs. “When banks buy other banks, people lose their jobs,” said Richard Lipstein, managing director at executive search firm Gilbert Tweed Associates. “If you look at a sale of an investment bank, this is as close to perfect as it gets.” Leucadia, often compared to Berkshire Hathaway for its diverse set of holdings, already owns a 28% stake in Jefferies, meaning it intimately knows the firm and its culture, and believes in its direction, Lipstein said…As for layoffs, “there likely won’t be any,” said one headhunter who works with Jefferies and requested anonymity. “Now they’ll have a stronger balance sheet, and the ability to pick up slack where other firms have left off,” said the recruiter. [eF, earlier]

The Germans would like to put it out there that they have no plans to “win market shares” by purging employees, despite reports suggesting otherwise. Read more »

According to Chaz, Goldman is the only firm that is “actually planning” on cuts (whereas others are taking a “wait and see” approach). Read more »