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Layoffs Watch '13: Lazard Capital

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On the subject of job cuts, employees would put themselves at 'very pissed' on the not pissed to really pissed scale.

Lazard Capital Management employees are fuming as the beleaguered brokerage firm fights rumors of a shutdown. The closely held New York company denies it’s closing up shop, but staffers said recent management moves tell a different story. “To say we’re pissed is an understatement,” one insider told The Post. In recent weeks, the financial firm implemented a new severance plan and ended retirement contributions, adding to speculation that it’s preparing to wind down. The firm, which boasts a ritzy Rockefeller Center address, is looking to layoffs to cut costs, particularly in equity sales, trading and research, according to sources.

Shutdown Fears Grow At Lazard Capital [NYP]


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