Would this be a case of "wall street" layoffs....and not necessarily "main street" layoffs?
Again, i never really understood the difference between wall street and main street, since what happens there affects what happens here, and visa versa....but whatever. On Wed, Jul 13, 2011 at 9:13 PM, Jerry Barnes <critic...@gmail.com> wrote: > > WOW: Morgan Stanley "Running Layoff Scenarios Into Several Thousand" > > Excerpt: > > Layoffsacross Wall Street started in June and have continued through the > summer. > > Morgan Stanley already begun reducing headcount in its brokerage. > > But it looks like things are about to get much worse. > > "The firm is running layoff scenarios into several thousand folks, said > one person with direct knowledge of the matter" to Charlie Gasparino at Fox > Business News. > > In June, Morgan Stanley's CFO, Ruth Porat, hinted there would be > significant > cuts coming to the bank's Smith Barney brokerage unit. As with layoffs that > occured in the first quarter, potential job cuts would come by "pruning > weak > performers," a bank spokesman said. > > Originally, cuts aimed to reduce the headcount of the Smith Barney unit > from > 18,500 to 17,500. > > Gasparino said the "firm would not deny that Morgan is drawing up plans for > a sweeping new round of layoffs if business conditions dont improve." Such > layoffs would include brokers, traders and possibly staff in the investment > bank. > > > Read more here: > > http://www.businessinsider.com/morgan-stanley-running-layoff-scenarios-into-several-thousand-2011-7 > > Must be brutal for NYC tax revenues. > > J > > - > > People who bite the hand that feeds them usually lick the boot that kicks > them. - Eric Hoffe > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:340370 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
