Comments on: Citigroup, Goldman to Fire Up to 10% of Global Investment Banking Staff http://www.nakedcapitalism.com/2008/06/wsj-citigroup-to-fire-up-to-10-of.html Sun, 22 Nov 2009 07:56:24 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Anonymous http://www.nakedcapitalism.com/2008/06/wsj-citigroup-to-fire-up-to-10-of.html#comment-9929 Anonymous Mon, 23 Jun 2008 07:48:00 +0000 http://www.nakedcapitalism.com/2008/06/citigroup-goldman-to-fire-up-to-10-of-global-investment-banking-staff/#comment-9929 Well at least 10% is a step in the right direction. Hopefully the Carbofuran will kick in soon and eliminate more of the vultures. :-) Well at least 10% is a step in the right direction. Hopefully the Carbofuran will kick in soon and eliminate more of the vultures. :-)

]]> By: Yves Smith http://www.nakedcapitalism.com/2008/06/wsj-citigroup-to-fire-up-to-10-of.html#comment-9919 Yves Smith Mon, 23 Jun 2008 04:32:00 +0000 http://www.nakedcapitalism.com/2008/06/citigroup-goldman-to-fire-up-to-10-of-global-investment-banking-staff/#comment-9919 Tom,<br/><br/>Thanks for the heads up. Will have a look. However, given that sovereign wealth funds have been pretty cool to bank overtures, I had assumed fund raising would be difficult and costly. That doesn't mean my views were widely shared, however. Tom,

Thanks for the heads up. Will have a look. However, given that sovereign wealth funds have been pretty cool to bank overtures, I had assumed fund raising would be difficult and costly. That doesn’t mean my views were widely shared, however.

]]> By: Tom Lindmark http://www.nakedcapitalism.com/2008/06/wsj-citigroup-to-fire-up-to-10-of.html#comment-9918 Tom Lindmark Mon, 23 Jun 2008 04:17:00 +0000 http://www.nakedcapitalism.com/2008/06/citigroup-goldman-to-fire-up-to-10-of-global-investment-banking-staff/#comment-9918 In my opinion much more important info on the WSJ feed today. Specifically, the window of new investors seems to be closing for the financials. Could be an interesting week! In my opinion much more important info on the WSJ feed today. Specifically, the window of new investors seems to be closing for the financials. Could be an interesting week!

]]> By: Independent Accountant http://www.nakedcapitalism.com/2008/06/wsj-citigroup-to-fire-up-to-10-of.html#comment-9917 Independent Accountant Mon, 23 Jun 2008 04:09:00 +0000 http://www.nakedcapitalism.com/2008/06/citigroup-goldman-to-fire-up-to-10-of-global-investment-banking-staff/#comment-9917 Only 10%? That's a downpayment. I've got two posts on the "Harvard MBA Indicator". This is overdue. Now you've got BA students at: Harvard, Stanford, Yale, etc., who think investment banking is a gravy train. Boy are they about to be surprised. Only 10%? That’s a downpayment. I’ve got two posts on the “Harvard MBA Indicator”. This is overdue. Now you’ve got BA students at: Harvard, Stanford, Yale, etc., who think investment banking is a gravy train. Boy are they about to be surprised.

]]> By: etc http://www.nakedcapitalism.com/2008/06/wsj-citigroup-to-fire-up-to-10-of.html#comment-9915 etc Mon, 23 Jun 2008 00:20:00 +0000 http://www.nakedcapitalism.com/2008/06/citigroup-goldman-to-fire-up-to-10-of-global-investment-banking-staff/#comment-9915 "Note that the same thing happened in the early 1990s, when employment in M&A shrank to roughly 1/4 of its former size, and many firms folded formerly separate M&A departments into other investment banking units."<br/><br/>You'll scare the newbies, who've never heard of 75% headcount reductions. The worst they seem to know about is the tech bust, when headcount only shrank around 25%. “Note that the same thing happened in the early 1990s, when employment in M&A shrank to roughly 1/4 of its former size, and many firms folded formerly separate M&A departments into other investment banking units.”

You’ll scare the newbies, who’ve never heard of 75% headcount reductions. The worst they seem to know about is the tech bust, when headcount only shrank around 25%.

]]>