of people fired thanks to the credit mess. I guess thats what happens when you’ve been working on M&A deals since last July but nothing can go through because you can’t finance it. Is still caught me totally by surprise I had nothing but praise from my superiors for the whole year. I think I didn’t get squat for my bonus (announced today) I will have to look at the package they offered me me tomorrow. I sympathize with everyone else in my situation. I just had to vent a little.
Sorry to hear it mate. You’ll find something else. I reckona nyone who has worked on M&A would be a wanted prospect in many lines of work.
Hi Sims, sorry to hear about this. I wish you the best…you’ll be back on your feet in no time. Just take some personal time to reflect on things before planning your next career moves. If you need suggestions for recruiters, send me an email. By the way, your superiors had nothing but praise for you probably because you are a good worker. The fact that you were let go really has little to do with individual performance, so try not to take it personally. Layoffs tend to happen on the business unit level first, then the department level, then potentially management level, and so on…I don’t know if it’s much consolation to think of yourself as just being a “number” (which you obviously aren’t), but the point is that being let go by your company is probably the *best* reason to be looking for a job, because potential employers will understand this and won’t question your ability to perform. Just try to be as gracious as possible with your team, because if you can get good references from the people you work with including your immediate boss, this will help you out a lot in the long haul.
Welcome to the club. Its been a month for me.
Has the M&A activity been seriously hurt by the subprime crisis ? Any massive lay offs in the M&A departments ?
Sorry to hear about that. Wish you the best of luck for your new endeavour.
Sims Wrote: ------------------------------------------------------- > of people fired thanks to the credit mess. > I guess thats what happens when you’ve been > working on M&A deals since last July but nothing > can go through because you can’t finance it. Is > still caught me totally by surprise I had nothing > but praise from my superiors for the whole year. I > think I didn’t get squat for my bonus (announced > today) I will have to look at the package they > offered me me tomorrow. > I sympathize with everyone else in my situation. > I just had to vent a little. Sorry to hear that. It’s difficult to finance anything (hearing Libor + 550 bp for PE) but you have to think that will change in the intermediate future. I would imagine that cash rich companies should be gleeing with joy right now. M&A should rebound. How come you didn’t get squat for bonus? (isnt there usually some minimum?).
Sorry I couldn’t understand the meaning of “didn’t get squat for bonus”… Does it mean they will or will not pay you a bonus?
they don’t have to give you squat for bonus hence its why the bonus is discretionary unless you had some type of guarentee in your contract. I heard all bofa got was a lousy 2 weeks severence package/ year of service.
YoMama14 Wrote: ------------------------------------------------------- I heard > all bofa got was a lousy 2 weeks severence > package/ year of service. That seems pretty standard. I wouldn’t be surprised if I were handed that deal any day.
I found out yesterday I am getting outsourced (along w/ about 50 others). Severance looks decent though. Around 12 weeks for me.
ryguy904 Wrote: ------------------------------------------------------- > YoMama14 Wrote: > -------------------------------------------------- > ----- > I heard > > all bofa got was a lousy 2 weeks severence > > package/ year of service. > > > That seems pretty standard. I wouldn’t be > surprised if I were handed that deal any day. That is not standard at all for a front office role on the sell side.
ryguy904 Wrote: ------------------------------------------------------- > YoMama14 Wrote: > -------------------------------------------------- > ----- > I heard > > all bofa got was a lousy 2 weeks severence > > package/ year of service. > > > That seems pretty standard. I wouldn’t be > surprised if I were handed that deal any day. i’m glad i don’t work where you work. bofa has been getting sued left and right for their ridiculous severance packages.
what does outsourced mean? Someone else is providing coverage and your company is subscribing to it?
Dear god I hope you’re joking virgin.
Thanks numi and all for the kind words and advice. Numi: I’ll be emailing you in the next few days at your porcupines address. For the bonus I’m gonna have to see with HR whats up with that because its mentionned in my contract that I get x% of my base salary, based on 1- my performance 2- the company’s performance and both were very good.
Hey Mr. Pink, All I know is that interest rates effect inflation.
“Hey Mr. Pink, All I know is that interest rates effect inflation.” What is the pink/inflation joke?
lol @ virgin, funny comeback
Turkish Wrote: ------------------------------------------------------- > “Hey Mr. Pink, All I know is that interest rates > effect inflation.” > > What is the pink/inflation joke? There was a post a while back, but within the pas few weeks to the effect of why is the relationship between and inflation and interest rates assumed to be such and such a way.