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Finance Layoffs: Barclays, Citadel, Bank of America and more

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Published December 18, 2008 at 11:34 AM
Pink_Slip_transparent.gifThe sight of a pink slip is worse than coal in your stocking on Christmas morning, but unfortunately that's what many bankers and private equity folks are receiving this holiday season. According to the Labor Department, jobless claims are up 554,000 -- more than 200,000 higher than a year ago. Here is the latest roundup of layoff announcements and rumors at financial services firms.

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  • Barclays Capital announced it has laid off 3,500 employees from the firms takeover of Lehman Brothers after the New York Post said the bank would dole out pink slips to employees after the new year.
  • Goldman Sachs Group Inc. is expected to cut 3,250 people over the next few weeks, according to Deal Journal. 
  • Bank of America Corp. is firing at least 17 stock analysts, according to Bloomberg. The bank also may be laying off employees in Belfast. 
  • British buyout firm 3i Group plc is reducing headcount by about 100 people.
  • American Capital is cutting 110 positions.
  • Morgan Stanley managing director Jonathan Mandel of the investment bank's private equity firm was let go as part of the round of layoffs.
  • Citadel Investment Group shut down its special situations group last week, according to DealBook.
  • Sovereign Bank and SI Bank & Trust are doling out the pink slips. Sovereign recently was acquired by Banco Santander SA of Spain.
  • GE Antares is waiting until the new year to announce layoffs, according to peHUB.
It's a difficult time right now, but there are jobs out there. Check out TheDeal.com's Career Center for the latest postings. - Maria Woehr

For more read the following:
Finance Layoffs: Schwab, BOA, Northern Trust and more
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Finance Layoffs: UBS, Citadel, GE Antares and more
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Merrill Grinch: Layoffs and other bad tidings before Christmas
Bank layoffs: J.P. Morgan, Goldman Sachs, Standard Chartered and more
Layoff roundup: WaMu, Barclays and BoNY
The latest layoff roundup: Citigroup, J.P. Morgan, Nomura, Fidelity, HSBC and more
More bank layoffs announced
Another round of bank layoffs 

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