Layoffs At Goldman, Rape And Murder At Lehman

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Reuters reports that Goldman Sachs laid off investment bankers last week, as a result of slowing M&A activity. The cuts were in the hundreds and affected support staff junior level bankers. Might not seem like a big deal to you, [Bear, Lehman, UBS], but they most certainly are a BFD to Goldman, and, of course, its biggest cheerleader. In related news, we hear that tensions at Lehman Brothers following this morning's conference call are running high. After the jump, dramatic interpretation of what's been poppin' in Dick Fuld's office in the last hour or so.



Goldman cuts M&A jobs as business slows [Reuters]

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Layoffs Watch '12: Goldman Sachs

The cuts aren't expected to go too deep but every man, woman, and plant counts. David A. Viniar, Goldman's chief financial officer, said the latest round of belt-tightening by the New York company might include job losses for "a couple of hundred people." By year end, Goldman will reduce total expenses by $500 million on top of about $1.4 billion in cuts since last spring. Goldman To Tighten Belt Further [WSJ] Related: Goldman Sachs’ Philodendrons In The Line Of Fire

Layoffs Watch '12: Goldman Sachs

A whole bunch of senior people were to pack up their things and leave last Thursday. Goldman Sachs laid off about 50 people last week, according to people briefed on the matter but not authorized to speak on the record. The cutbacks have rattled some people in the firm, in part because a number of the employees were managing directors and on the higher end of Goldman’s pay scale. We're also told that "good performers, not dead weight" were among those cut, which must doubly sting. Goldman Sachs Cuts A Little Deeper [NYT]