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You've probably already heard, but the proposed layoff packages for BSC employees doesn't look that bad - talked with a friend over there, and it looks like they're going to be paid double salary during the transition period, a month's severance for each year worked, plus some kind of
additional cash bonus for people that are kept on through the transition period.
The place is a ghost town though - a friend of mine who is still employed there told me that their equity derivatives desk only did something like 20 trades the other day. 20 trades in a day comes out to just about one trade per EQD trader on the desk! LOL...
The layoffs / bloodbath is supposed to start in a week or so.
[Former MD/P at BSC...]


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