c***1
发帖数: 652 | 1 妈的，这日子没法过了，还有完没完啊。。。自从来了纽约，就没过上一天好日子。。
。。。
http://money.cnn.com/2011/11/18/markets/wall_street_layoffs/ind
NEW YORK (CNNMoney) -- As protesters find new ways to "Occupy Wall Street",
major financial firms have been busy handing out pink slips this week.
It's the second week of what's expected to be a brutal season for job cuts
as big banks have already announced that there will roughly 75,000 fewer
people working at their firms.
Bank of America (BAC, Fortune 500) and JPMorgan Chase (JPM, Fortune 500)
commenced new rounds of job cuts this week, following the lead of Citigroup
(C, Fortune 500), Goldman Sachs (GS, Fortune 500), Credit Suisse (CS) and
RBS.
Most of the layoffs at Bank of America this week came from the firm's
investment banking and capital markets divisions, according to a source
close to the firm. A Bank of America spokesperson declined to comment. In
September, Bank of America announced planned cuts of 30,000 employees over
the next several years.
JPMorgan Chase's spokesperson wouldn't discuss whether any jobs had been cut
or any numbers. "There were no job cuts beyond those previously announced
months ago."
In the firm's third quarter earnings conference call, JPMorgan Chase's CEO
Jamie Dimon said the firm would see a reduction in headcount but no major
layoffs. Sources familiar with the bank's activities this week said that a
number of traders were handed pink slips this week.
"Things have gotten pretty bad, pretty fast," said Richard Lipstein,
managing director of the executive search firm Boyden. Lipstein said he's
seen a big uptick in jobseekers over the past two weeks, particularly among
midlevel executives.
Wall Street's shrinking job pool
Mid-to-late November is typically the season for layoffs, as banks want to
avoid making cuts during the holidays in December. By doing it before year-
end, these employees aren't eligible for bonuses.
UBS became the latest firm on Wall Street to announce new specific rounds of
terminations.
At the firm's annual investor day at the Waldorf-Astoria hotel in New York
Thursday, UBS's (UBS) new CEO Sergio Ermotti said there would be 400
additional job losses in the firm's investing banking division on top of
1600 announced in August. That will prune roughly 11% of the firm's
investment banking staff, or 2,000 positions, by the end of 2016.
"Layoffs have been expected, but what's a little different this time is that
firms are being more open about it and in some cases, actually inflating
their numbers," said Alan Johnson, managing director at Johnson Associates,
a compensation consulting firm. "Firms are trying to show how prudent they
are."
It's not surprising that bank executives are trying to at least give the
impression of frugality. Bank stock prices have been decimated in 2011.
Shares of Bank of America, for example, are down 56% this year.
Meanwhile, since Wednesday, bank stocks have fallen precipitously after
Fitch Ratings put out a report outlining how US financial firms could be
adversely affected by the EU sovereign debt crisis.
This week Citigroup (C, Fortune 500) announced that it would make "targeted
headcount reductions in certain businesses and functions," according to a
company statement. It is estimated that 3,000 jobs -- or about 1% of
Citigroup's staff -- will be cut, but a source familiar with Citigroup's
plans said the firm is still finalizing its plans for cuts.
Among Bank of America's layoffs this week, the company eliminated employees
who had joined as part of its merger with Merrill Lynch. Bank of America cut
several high-level employees in its prime brokerage division, which helps
the bank execute trading on behalf of hedge funds.
Meanwhile, analysts think the worst may be over unless the economy does dip
into another recession.
"I don't expect there to be more big broad based cuts like we had in the
securities industry in 2001 or 2008," said Jeff Harte, a banking analyst at
Sandler O'Neill + Partners. "Ultimately I don't think we've built up a ton
of excess capacity unless the environment gets a lot worse." To top of page | A**u
发帖数: 2458 | 2 哎
,
Citigroup
【在 c***1 的大作中提到】
: 妈的，这日子没法过了，还有完没完啊。。。自从来了纽约，就没过上一天好日子。。
: 。。。
: http://money.cnn.com/2011/11/18/markets/wall_street_layoffs/ind
: NEW YORK (CNNMoney) -- As protesters find new ways to "Occupy Wall Street",
: major financial firms have been busy handing out pink slips this week.
: It's the second week of what's expected to be a brutal season for job cuts
: as big banks have already announced that there will roughly 75,000 fewer
: people working at their firms.
: Bank of America (BAC, Fortune 500) and JPMorgan Chase (JPM, Fortune 500)
: commenced new rounds of job cuts this week, following the lead of Citigroup
| c***1
发帖数: 652 | 3 那位大牛来说说现在问题的根源到底是啥？是因为次贷之后没有新的经济增长点，还是
因为regulation?
【在 A**u 的大作中提到】
: 哎
:
: ,
: Citigroup
| c***1
发帖数: 652 | 4 刚刚看到这个 “By doing it before year-end, these employees aren't eligible
for bonuses.”，我还从来没想过这个问题呢，一直以为是pro-rated, 妈的
【在 c***1 的大作中提到】
: 那位大牛来说说现在问题的根源到底是啥？是因为次贷之后没有新的经济增长点，还是
: 因为regulation?
| c***1
发帖数: 652 | 5 看到最后，总算有一丝希望，唉：
Meanwhile, analysts think the worst may be over unless the economy does dip
into another recession.
希望things only get better from now on | s********r
发帖数: 529 | 6 我的妈呀。。
,
Citigroup
【在 c***1 的大作中提到】
: 妈的，这日子没法过了，还有完没完啊。。。自从来了纽约，就没过上一天好日子。。
: 。。。
: http://money.cnn.com/2011/11/18/markets/wall_street_layoffs/ind
: NEW YORK (CNNMoney) -- As protesters find new ways to "Occupy Wall Street",
: major financial firms have been busy handing out pink slips this week.
: It's the second week of what's expected to be a brutal season for job cuts
: as big banks have already announced that there will roughly 75,000 fewer
: people working at their firms.
: Bank of America (BAC, Fortune 500) and JPMorgan Chase (JPM, Fortune 500)
: commenced new rounds of job cuts this week, following the lead of Citigroup
| d*j
发帖数: 13780 | | n****e
发帖数: 2401 | | a***x
发帖数: 26368 | 9 可以上街参加ows了。
,
Citigroup
cut
among
of
that
,
targeted
employees
cut
dip
at
page
师呢
【在 c***1 的大作中提到】
: 妈的，这日子没法过了，还有完没完啊。。。自从来了纽约，就没过上一天好日子。。
: 。。。
: http://money.cnn.com/2011/11/18/markets/wall_street_layoffs/ind
: NEW YORK (CNNMoney) -- As protesters find new ways to "Occupy Wall Street",
: major financial firms have been busy handing out pink slips this week.
: It's the second week of what's expected to be a brutal season for job cuts
: as big banks have already announced that there will roughly 75,000 fewer
: people working at their firms.
: Bank of America (BAC, Fortune 500) and JPMorgan Chase (JPM, Fortune 500)
: commenced new rounds of job cuts this week, following the lead of Citigroup
| a***x
发帖数: 26368 | 10 eh....
dip
师呢
【在 c***1 的大作中提到】
: 看到最后，总算有一丝希望，唉：
: Meanwhile, analysts think the worst may be over unless the economy does dip
: into another recession.
: 希望things only get better from now on
|
|
