Anyone know someone who got “let go” at Lehman? CNBC saying that people were told the same day they were being fired and walked out of the building some before lunch i hear!
i think that is standard operating procedure. rough
Yes - 9 of my friends got cut. It’s a ghost town here.
pimp, over how long a period are the layoffs supposed to occur at lehman? at least it’s not like citi, where the restructuring process is quite protracted and layoffs will occur throughout the year. from my friends who work there in research, they tell me it’s like a ghost town there…ALL the time. i’m sure you heard about how fragmented the culture is and how low the morale is there, but from what i hear, it’s approaching all-time lows.
where is this ghost town that your talking about?
1/2 of my team was fired and they left rite away at around 11.00 AM. Very sad environment here.
Front office was done as of yesterday. Thank god there’s no more. I think sell-side research is dying a slow death.
numi Wrote: ------------------------------------------------------- > pimp, over how long a period are the layoffs > supposed to occur at lehman? at least it’s not > like citi, where the restructuring process is > quite protracted and layoffs will occur throughout > the year. from my friends who work there in > research, they tell me it’s like a ghost town > there…ALL the time. i’m sure you heard about how > fragmented the culture is and how low the morale > is there, but from what i hear, it’s approaching > all-time lows. It’s interesting that your brought that up because I have noticed that Citi has been slowing grinding the ax and choping it in segments. This isn’t near my area of expertise, but hasn’t there been a plethora of research from OB folks that it is far better for company morale to just make a big cut and get it over with and then stop rather than die a death of a thousand cuts and hence have everyone walking on pins and needles wondering when they’re number is up??
CFA_Halifax Wrote: ------------------------------------------------------- > > It’s interesting that your brought that up > because I have noticed that Citi has been slowing > grinding the ax and choping it in segments. > > This isn’t near my area of expertise, but hasn’t > there been a plethora of research from OB folks > that it is far better for company morale to just > make a big cut and get it over with and then stop > rather than die a death of a thousand cuts and > hence have everyone walking on pins and needles > wondering when they’re number is up?? yes – this is exactly right. but they don’t do it this way, because the institution is so disorganized and a lot of people feel like they’re being perceived as a resource rather than an asset. of course, this is also one of many reasons why citi management is such a joke, why morale there seems to be perpetually low, and so on and so forth.
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numi Wrote: ------------------------------------------------------- > CFA_Halifax Wrote: > -------------------------------------------------- > ----- > > > > > It’s interesting that your brought that up > > because I have noticed that Citi has been > slowing > > grinding the ax and choping it in segments. > > > > This isn’t near my area of expertise, but > hasn’t > > there been a plethora of research from OB folks > > that it is far better for company morale to > just > > make a big cut and get it over with and then > stop > > rather than die a death of a thousand cuts and > > hence have everyone walking on pins and needles > > wondering when they’re number is up?? > > yes – this is exactly right. but they don’t do it > this way, because the institution is so > disorganized and a lot of people feel like they’re > being perceived as a resource rather than an > asset. of course, this is also one of many reasons > why citi management is such a joke, why morale > there seems to be perpetually low, and so on and > so forth. Got ya. I’ve never had a lot of faith in Citi. These events have only furthered this prejudice
numi, is it fair to assume that you “maybe” worked at Citi?
haha, because of all the complimentary things i had to say about it? i guess i should be more careful about saying things about the firms where other people on this board may work…but i do know enough people there to believe that i’ve gotten at least a cross-section of what is probably the truth about the place. plus, i don’t think what i’ve been told is that off-base from what the media has reported, so it seems that everyone shares the same opinion.
Wow, Lehman stock down 25% in two weeks. Wonder where bottom is for these guys.
do you know the joke of the year ?? I’ll be job hunting after june the 7th !!! hopefully markets will see better days…