In addition to cuts in the Industrials; M&A; Real Estate, Gaming, Leisure & Lodging; and Leveraged Finance, the bank’s converts desk was said to be “gutted,” losing at least five Managing Directors and a few analysts. On the bright side, today was expected to be the last day of layoffs for the foreseeable future.
Layoffs
Cuts are said to have gone down in DB IBD. Read more »
Fewer bodies, more often. Read more »
Employees within fixed income may need to find room at another inn. Read more »
Nomura is said to be encouraging people in equities to consider their options elsewhere but it’s okay because this is all part of a plan. Read more »
These things take time. Read more »
The Germans are not yet done firing employees in Asia. Read more »
As the results of a recent survey given to Harvard Business School’s Class of 1986 show, holding an MBA does not ensure one a job for life, particularly in these tough economic times (nearly half of all of respondents said they had been laid off or fired at least once). This summer has not been without its share of cuts and according to Meredith Whitney, at least 50,000 more financial services employees will be let go the end of the year. When and if that time comes for you, will your spouse or loved ones be prepared to do whatever it takes to help you land you your next gig, like Holly Stuard’s husband was? [TNN via Gawker]
The firm has big plans to “rebuild the investment bank from the ground up,” starting by canning a few hundred or so employees. Read more »
Relatedly, Goldman is looking to increase its ranks of junior mistmakers. Read more »
The cuts aren’t said to be too significant though the people who’ll no longer be receiving quality Cohn-crotch time are unlikely to see it that way. Read more »
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SoFi Answers the Call to Refinance Student Loans and Provides Unique Community Benefits
This is a guest post written by SoFi’s CEO, Mike Cagney.
CLICK HERE TO READ THE FULL ARTICLE
Recently, there’s been a lot of talk amongst leaders in Washington about how to improve the painful process of repaying student loans. At SoFi, we feel your pain and work hard to offer more flexible, more affordable options for our borrowers. One idea that’s getting a lot of attention is increasing the options for refinancing debt after graduation. The only lender currently focused on refinancing private and federal student loans is SoFi.
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In a recent article posted on MainStreet.com SoFi General Counsel Rob Lavet had this to say about SoFi’s ReFi products: Read more »
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