I heard there was a big cut at ML research yesterday. Anyone knows how many people were let go ? Severance ?
CSFB cut airline analysts on Tues
All ML employees also got an email yesterday telling them of the 35,000 cuts all in all. I guess the Equity research cuts are the first few of the 35k.
bulgies are getting crushed, sad. i also heard cuts @ blair and GS this past 8 weeks.
Airline Analyst at CSFB ?? Dan Mckenzie ?? and I thought CSFB was doing better than the others ??
I don’t see how 35k is a big number given combined sizes of ML and BAC.
it is if you add up all the layoffs that have happened throughout the year.
taz722 Wrote: ------------------------------------------------------- > it is if you add up all the layoffs that have > happened throughout the year. I believe market was saturated with people who didn’t know sh*t. Some meat will also go but mostly it will be dead weight. Earning $ was too easy.
taz722 Wrote: ------------------------------------------------------- > Airline Analyst at CSFB ?? Dan Mckenzie ?? and I > thought CSFB was doing better than the others ?? he is gone, dude. whole sector was nailed…sucks
comp_sci_kid Wrote: > I believe market was saturated with people who > didn’t know sh*t. Some meat will also go but > mostly it will be dead weight. Earning $ was too > easy. what? not these days, if you had a job, you were halfway decent. maybe before 2000/spitzer, your point held some weight. these days, if you still have a job, its is b/c you are doing something valuable and/or your clients keep paying you to help guide them in this nasty market
Sucks.Really nice guy.Stern Alum. Was very helpful when I approached him for career advice/help. I wonder if the CFA is even worth anything anymore.I guess i will end up spending my entire career in IT. It’s going to be really hard getting motivated for Level III in June. Daj, Howz your firm doing ??
Tons of great people are unemployed right now and it will only get worse in January as some firms are reluctant to fire during the holidays. Typically you expect the weak to leave the industry and the strong would flourish in this environment. On the sell-side you have mass layoffs, for instance many banks are going group by group and firing every second year banking analyst, on the buyside regardless of returns funds are shutting down due to redemptions. This cycle is different from anyone in their 20s or 30s is familiar with. Plenty of fat AND meat are being cut.
taz722 Wrote: ------------------------------------------------------- > Sucks.Really nice guy.Stern Alum. Was very helpful > when I approached him for career advice/help. > > I wonder if the CFA is even worth anything > anymore.I guess i will end up spending my entire > career in IT. It’s going to be really hard getting > motivated for Level III in June. > > Daj, > > Howz your firm doing ?? good, boutiques doing ok, could be better, but not bad
taz722 Wrote: ------------------------------------------------------- > Sucks.Really nice guy.Stern Alum. Was very helpful > when I approached him for career advice/help. > > I wonder if the CFA is even worth anything > anymore.I guess i will end up spending my entire > career in IT. It’s going to be really hard getting > motivated for Level III in June. > > Daj, > > Howz your firm doing ?? good, boutiques doing ok, could be better.
taz722 Wrote: ------------------------------------------------------- > Sucks.Really nice guy.Stern Alum. Was very helpful > yeah, thats him. He should be fine, he had great hedge fund contacts
So you knew him as well.I hope he lands on his feet. You are lucky to get a job in this market.Is this your first ER job ?
Daj, Would u happen to know if Bill Shope at Credit Suisse is still around ?
taz722 Wrote: ------------------------------------------------------- > Daj, > > Would u happen to know if Bill Shope at Credit > Suisse is still around ? dont know that cat
Bill Sharpe?
