Here’s some news sure to please the xenophobes who populate this site—BNP Paribas has been making cuts in leveraged finance, high yield, and fixed income all week. Severance for junior staff is apparently 2 months salary, and analysts are receiving prorated bonuses on top. With the 35 hour work week, that apparently comes to about $2500.
Layoffs Watch '16: BNP Cutting Investment Bankers But It's Okay
The French are also *hiring*.
Layoffs Watch '16: BNP Asking Investment Bankers To Consciously Uncouple From Their Jobs
The French bank needs 675 volunteers.