a banking friend said, when people get fired, a few guys get rewarded for the cost cutting exercise, and then a few months later they recruit back the same number of staff .. and reward themselves for increasing the business = need more head count ..Sergei82 wrote:If it comes to that, I've also chatted with my drink buddy from Barclays yesterday. Confirmed. And he is only a few months in Barclays, already feels uneasy.
That sounds about right. Another round is coming now that all the money that fled the developed markets to Asia is going back.ecureilx wrote:a banking friend said, when people get fired, a few guys get rewarded for the cost cutting exercise, and then a few months later they recruit back the same number of staff .. and reward themselves for increasing the business = need more head count ..Sergei82 wrote:If it comes to that, I've also chatted with my drink buddy from Barclays yesterday. Confirmed. And he is only a few months in Barclays, already feels uneasy.
Never figured out how the banking industry works ..
hope they made hay while the sun shone ..Barnsley wrote:12,000 worldwide going down the road .....
http://www.bbc.co.uk/news/business-26131799
Barclays is known to give excellent severance pay. 1 month salary for every year worked and 2 months for the notice period at the junior level. The big shots who are employed for like 6 years or more, will make even more hay with this layoff. The junior guys who were hired most recently are the ones that will suffer the most.AndrewV wrote:hope they made hay while the sun shone ..Barnsley wrote:12,000 worldwide going down the road .....
http://www.bbc.co.uk/news/business-26131799
That's what you get for being an "investment" bank run amok. "Investing" in derivatives so complex no one fully understands them. Refusal to properly acknowledge true exposure in their CDS portfolio. And they still have money to pay 576 million pounds in bonuses.Wd40 wrote:RBS has just reported its worst loss since 2008
http://www.bbc.com/news/uk-england-26364715
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