Admittedly it’s just a theory but hear us out– based on the following bonus numbers communicated to managing directors this morning in Stamford, is it possible the Swiss’s long-term revenue generating plan is to get someone to burn the place down so they can collect the insurance money and then work out of Howard Johnson’s? Continue reading »
that’s gonna leave a mark
Today is bonus communication day in BofA global markets and while there are no specifics to be had just yet, a couple things to note: 1) it’s not looking good and 2) this hurts them more than it hurts you. Continue reading »
Remember, back in late December, when RBS sent out a holiday card to employees telling them to buck up, because, contrary to what everyone had heard, management would not be taking a “knee-jerk approach” to laying off employees, but rather thoughtfully “re-examining business strategy and resource deployment” and hey, maybe they wouldn’t end up firing that many people at all? Well, they thought about it, and here’s what they came up with: Continue reading »
Goldman Sachs International has triggered a clause inserted into the employment contracts of a group of its London-based investment bankers in mid-2009 that will result in them having to take a pay cut, Financial News has learned. A number of staff across the investment bank’s European division, which is based in London, have been told this summer that their base salaries will be cut, a source with knowledge of the situation told Financial News. [FN/WSJ]
Remember, back in April, when Bank of America decided it was tired of posting negative profits? And so that people would know they were dead serious about the goal of, rather than losing money, making it, gave their mission a special codename called Project New BAC? And then announced internally that PNBAC, led by 44 executives, would “fan out around the company to ask employees low-and high-level for ideas on how they can do their jobs better and how BofA can tweak its financial-product offerings to make the more appealing,” in addition to “reducing expenses”? Well, they did, and here’s what Team PNBAC came up with: everyone’s getting fired. Continue reading »
In fact, he predicted them during an interview a few weeks back, though the specifics are a bit off (unless he was alluding to another incident we’ve yet to hear about?). Continue reading »
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