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Layoffs Watch '09: Madoff Securities


Not sure if it's actually characterized as 'layoff' when your boss is (maybe) going downtown but we can quibble over semantics later. According to our resident Madoff expert, "people on the 17th, 18th, 19th floors started being let go yesterday, continuing this morning...included in the dismissals was Ron Hooey, who was a high paid friend of the Madoffs." No word on whether or not Bernie-boy was there to see them off, though, let's be honest, if he wanted to find a way to be there, he would. Regarding bouncing back, an unlikely rumor has been going around that the legal departments of some big firms have enacted a moratorium against hiring ex-Madoff employees, though we've been told that 3-4 PMs have already secured new jobs.