"100+ got clipped this week in the Real Estate finance group."
Layoffs Watch '12: Barclays Capital
Cuts are said to have begun today across the pond. FYI: 'Consultation process' (job cuts) at BarCap London start this week. No indication of scale. Same day as [UK governance watchdogs] PIRC and ABI put firm on Amber Top alert due to exec compensation... troops not happy.
Layoffs Watch '12: UBS?
Cuts are said to be coming in the near-ish future. "More layoffs are expected to take place within the next 2-3 weeks with at least 10pct cuts across the board in sales, research and trading. Morale has reached a new all-time low (hard to imagine it could become lower?) and at this point many have the attitude that if they get out now at least they'll get a package out of it."
Layoffs Watch '12: Nomura
The company is still in the firing phase of the rebuilding process. Nomura Holdings cut a team of London proprietary traders focused on stocks as Japan’s largest brokerage scales back in Europe, said two people with knowledge of the matter. The group of about five traders was part of Nomura’s Angel Lane Principal Strategies, a unit that makes speculative wagers on markets with capital provided by the Tokyo-based bank, according to the people, who declined to be identified because the job cuts haven’t been announced. The team departing this week was led by Anthony Medina, a volatility trader who used options to bet on fluctuations in the prices of stocks, the people said. The departures are part of Nomura’s plan to reduce costs by $1 billion, with almost half the savings coming from Europe. The revamp in strategy follows a four-year struggle to build a business overseas following the purchase of Lehman Brothers Holdings Inc.’s European and Asian units in 2008. Nomura Said To Cut Team Of Proprietary Traders Focused On Stocks [Bloomberg]
Layoffs Watch '12: Asia
The bad news is that Goldman Sachs, Deutsche Bank, UBS, and others have been making cuts and are expected to continue to do so. The good news is that not everybody is upset about it. Speaking to bankers and other industry sources, Reuters was able to confirm at least 50 people were let go in the past three weeks, a cull that includes senior expatriates as well as junior bankers. The cuts mainly target the equities business, with more layoffs expected in coming weeks. CLSA , Deutsche Bank, Goldman Sachs, and UBS were among the banks and brokerages that cut jobs, the sources said...The Asia cuts also come at an unexpected time, when expatriate finance professionals are preparing to hunker down for the summer while their families head home for the holiday. "I'm disappointed, but in some ways I'm glad I was cut early in this round, because everyone is looking over their shoulder," said Cassandra Lister, who was recently let go as a managing director at Societe Generale in Hong Kong. "They're looking around and wondering 'Am I next?' It's a horrible work environment." Asia's Investment Banks Launch Round Of Job Cuts [Reuters]
Layoffs Watch '12: JPMorgan
The House o' Dimon has said to be letting some people down gently today. "Big equities cuts today at JPM. 10% ish of floor? Gone. A good deal of senior people but a smattering of associates and analysts as well. Seems like a general restructuring, every group affected."