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bump
100 layoffs globally is pretty small
What is the global IB total? Is this sales and trading too?
heard nothing internally
Thanks for responding
Also heard nothing…
My boy woulda been the one doing some of the firing in his group. Nothing
Does anyone know severance terms?
yes
see comment at bottom of thread..
Bump
Update?
100 seems significant since its only IB this time
Started in NY this am, only heard of junior level
Analysts?
Seniors in my group
Can you share the group or provide more context? One of larger/ smaller groups?
Which group was it?
Following
Any more updates?
Few people were let go today, including some first years.
Why?
Layoffs in IB
Any update if its done?
Bump
https://www.efinancialcareers.com/news/2023/04/barclays-cuts
Any intel if this will continue tomorrow in NY?
no according to staffer
Were all coverage groups hit?
Bump
Are layoffs done in all groups?
Based on today, no
It happened to a certain Director I know.
Can someone comment on which groups were affected exactly?
Lev fin
How does this meeting occur? Do people get an email to have a meeting a night before or right before it occurs? Who does it?
Unsure if completed but layoffs across various product and coverage groups yesterday including FIG HC Tech ECM LevFin, etc. believe at all levels saw A1 up to Director.
Severance package is 3 months + 1 month for each year you've been an employee at Barc.
If anyone has info on whether layoffs are complete or not would be helpful (for peace of mind)
Thank you for all the info!
I guess as the day progresses we will see if complete.. Really hope it is
Is severance full or partial pay for 3 + x months. Does equity vest too?
this is not true.
looking at my own terms right now it is in fact 2 weeks of base salary for each full year with the firm but no less than 4 weeks worth of salary.
tldr, as a second year, I get a month of salary.***Note it is 3 weeks base salary per year if you have worked more than 5 years at the firm.
3 months plus a month per year served would be wonderful but that is not in fact true my man
I hope you land a good offer quick🙏🏻
Fuck that sucks really bad. Why would the other guy be lying though? I heard from other banks the severance terms were quite generous (2-6 months)
Any updates?
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