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Layoffs Watch '09: Barclays

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"Massive" layoffs are said to be going down at Barclays circa now, affecting equities at all levels but especially first and second years. Apparently not everyone was brought up to speed that there'd be any whackings today-- one victim's boss (and his boss's boss) had no idea about the layoffs, with the global head calling a bunch of employees into his office and letting them know they were getting canned due to "restructuring and non-performance based" reasons, without telling their direct managers first.
Update: One employee says it's rumored the cuts, which started yesterday but "went into full swing today" will continue until next Friday and will be "rather substantial."


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