Layoffs Watch '15: Macquarie

The bank is set to ask half its bankers in Asia to clear out their desks.

Author:
Bess Levin
Updated:
Jul 2, 2019
Original:
Mar 31, 2015

The new vision of the firm reportedly involves 50% fewer bankers in Asia.

Macquarie Group Ltd. plans to cut about half of its investment-banking workforce in Asia as Chief Executive Officer Nicholas Moore reshapes the firm, people familiar with the matter said. About 80 to 90 jobs would be eliminated in the reductions, one of the people said, asking not to be identified because the decisions are confidential.

Macquarie Said to Cut Asia Banking Workforce as Deals Fizzle [Bloomberg]

Cuts are said to be going down at the bank circa now.

Cuts are said to be coming next week. "FYI: Layoffs next week at Macquarie in New York, mostly at the SVP and MD level, right before their FY-end. Not much in terms of bonus pool given weak deal flow." Related(-ish): Macquarie Bank Miranda Kerr Enthusiast On A Time Out ‘Til Superiors Decide What To Do With Him

The bank has reportedly begun a round of cuts that will ax 5,000 employees.

This is not so much a request as a requirement you're unlikely to get around, unless anyone is considering chaining themselves to their desks.

The firm is said to be giving a whole bunch of employees the heave-ho.

Layoffs are said to be underway at the British bank.

John McFarlane's reputation for telling staff to GTFO precedes him.

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