We kicked your teeth in yesterday with the news that both BarcLehs and American Express were canceling their holiday parties. Now for the crowbar to your ribs--Morgan Stanley has announced that there will be no company-sponsored petting come December this year. Sayeth MS:
"As you know, in terms of the global economy, it now appears that the environment will remain challenging for the foreseeable future. In times like these, as difficult as it may seem for people in our industry, it is the charities and nonprofits that depend explicitly on donations, many from the financial services sector, that will come under the most pressure in the coming months.
To help ease that pressure, we have asked all divisions to forego their Firm-sponsored holiday parties this year and instead help us apply those designated funds toward helping those most in need. Employees who are personally funding their own holiday events are still free to do so; this request is strictly with regard to Firm-sponsored employee events for the holidays."
Not included in the note though circulated through the ranks yesterday was the tip that layoffs are a' coming. Think two or so weeks from now, across the board.