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.

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

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

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 Germans are considering sending some bankers to live on a farm upstate, where there's plenty of fresh air and room to run around. Europe’s biggest bank by assets, is considering cutting about 1,000 positions at its investment bank as revenue declines, according to a person with knowledge of the matter. The cuts will be mostly outside Germany, where the firm’s investment banking operations are focused, said the person, who asked not be identified as Deutsche Bank’s plan hasn’t been made public. [Bloomberg]

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]