Layoffs Watch '09: Barclays

Thanks for this. Last we heard they were hiring. This sounds pretty selective to me, as I know there are open recs for them.

Aptboy or LP1. I blocked from deal breaker. can you post the article here? Thanks

Layoffs Watch '09: Barclays
Posted by Bess Levin, Jun 23, 2009, 2:22pm
"Massive" layoffs are said to be going down at Barclays circa now, affecting equities at all levels but especially first and second years. Apparently not everyone was brought up to speed that there'd be any whackings today-- one victim's boss (and his boss's boss) had no idea about the layoffs, with the global head calling a bunch of employees into his office and letting them know they were getting canned due to "restructuring and non-performance based" reasons, without telling their direct managers first.

Update: One employee says it's rumored the cuts, which started yesterday but "went into full swing today" will continue until next Friday and will be "rather substantial."

My buddy got laid off in the last round. I banker in March. Its entirely possible that they are NET hiring, but just laying off in this part of the bank. however, if I had to guess there is still Lehman/Barclays overlap.

Is this in NY or London (or elsewhere)?

Might have started earlier than yesterday. Friend of mine got it last week. Commodities. NY

Barcleh's equity getting hit hard...whole teams

A friend who was at Lehman, then barclay's e-mail started bouncing 2 weeks ago. It was literally in the middle of a conversation (maybe 20 minutes between e-mails).

Now I know why...

My buddy was in times square.

Anybody still think we're about to turn the corner on this recession?

SteveF.

We've been about to turn the corner on the recession since, well, before the recession.

Good thing you can't hit your head as we bottom, considering the number of times we have bottomed.