It looks like only folks on the Investment Banking side are being affected, please reply and correct me if I am off. Gorman said last week that there will be "modest" cuts, so I do not think anyone is surprised. So far NYC and London reported cuts, not sure about other locations.
The execution is on a Zoom call, there is no love lost here.
how do you move investment in your 401k from one fund to another? or you lost control of your 401k investment? or they will reinvest your 401k?
Regarding "All week"... we met with MD this afternoon who said things would not be all done today.. Just sharing what I hear
Let's face it: These banks are run by a bunch of sadistic animals, who make millions of the id--ts who believe they have a career in these institutions. Unless employees band together and push back, asserting their rights as human beings, this will continue.
To whoever that is… How the fu-k will this be going on all week? Is this your first layoff?
It is true. I am in IED and have heard RiFs in IED and WM in the US today. We have an EOD call to discuss ‘reorg’. The guy that sits in front of me is gone. So far of the 10 names - 1 ED and 2 VPs.
Any news in risk department?
VP in Tech got laid off
Just told in Tech this is still going on all week
Anything on severance?
Any idea about severance package?
Not true about IB only. I was laid off in WM Ops
Which departments in Tech lost EDs?
1 more ED in tech.
At least one ED in Tech today
I think APAC got hit when we were sleeping.
Nothing I’ve seen in Baltimore yet but the day isn’t over. I think Montreal might be spared some cuts because the Canadian dollar is so low. Cheap labor up there.