Skip to main content

Layoffs Watch '08: Current And Upcoming Shitcannings At Credit Suisse And Morgan Stanley, Respectively

  • Author:
  • Updated:

A (very) recently fired Credit Suisse employee tells us that “Every conference room on the CMBS floor has an HR representative working through people as they show up for work. Analysts and Associates seem to be the first out the door.” We understand that for the victims, this might seem like bad news, and yeah, you’ll probably feel weird about going to Shake Shack for a while, but the flipside is that you won’t have to deal with the embarrassment of being employed by Bear Stearns, when the two banks merge. In related news, Morgan Stanley has announced plans for its own population restructuring, as modeled after the redistribution project in the Sudan. If you have any other info, feel free to share, or not share, otherwise, enjoy this one on me:

Morgan Stanley to Cut About 1,000 Jobs, Person Familiar Says [Bloomberg]
CS No Comment on Talk of Interest in Bear Stearns [Reuters]