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Layoffs Watch '14: HSBC

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A whole bunch of bankers and various other members of Team Hongkong and Shanghai Banking Corporation were said to come back from Labor Day to an unfortunate surprise.

From the front lines:

"29 commercial/corporate bankers returned from the Labor Day break to find that their 'break' was extended indefinitely... more than a handful were in the NY office, including large corporate and the retail and apparel industry teams, with the rest spread out across the country (which, of course, is comprised of HSBC offices that two years ago either didn't exist or were much smaller)."

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Layoffs Watch '12: UBS

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Layoffs Watch '12: Barclays

Cuts are said to have gone down with more a-comin'. Barclays PLC is cutting about 50 employees from its equities business, the latest effort by the British bank to reduce costs at its investment-banking arm. A week ago, the U.K. lender announced internally that about 10% of the jobs at its equities business across Europe, Africa and the Middle East would be lost, a person familiar with the matter said Friday. During the first half of the year, Barclays's equities and prime services business, which employs about 500 people, saw revenue fall 12% on the year to £973 million ($1.57 billion). The business has suffered as market volumes have dried up in recent quarters...The work-force reduction could be a taste of things to come for Barclays's investment bank. At the beginning of 2009, former Barclays Chief Executive Bob Diamond hired more than 400 bankers, mainly in equities and research, as part of a drive to turn the predominately debt-focused bank into a multi-asset powerhouse. Following Mr. Diamond's departure in the wake of a rate-fixing probe, new CEO Antony Jenkins has started a review of the bank's businesses to assess their profitability and whether and how they affect the lender's reputation. This, combined with tougher regulatory requirements, is expected to result in Barclays shrinking its investment bank, analysts say. Barclays To Cut 50 Equities Jobs [WSJ]