More bad news for bankers. Layoffs have been announced at American Express Co. (NYSE:AXP), HSBC Holdings plc (NYSE:HSBC), Legg Mason and more.
- American Express is planning another round of layoffs. CFO Dan Henry said during the company's
first-quarter results, "We are planning to implement another round of
actions, including staff reductions, in the second quarter,"according to The Wall Street Journal.
- HSBC has laid off 100 private bankers in Hong Kong, according to The Asian Banker.
- Legg Mason has laid off 24 workers
at its corporate office in Baltimore, Md., according to The Advocate.
- The Wells Fargo & Co. (NYSE:WFC)-Wachovia and Morgan Stanley (NYSE:MS)-Citigroup Inc. (NYSE:C) Smith
Barney deals could lead to more broker layoffs. Alois Pirker, a brokerage analyst with research firm Aite Group, told the The Wall Street Journal that each firm could drop employees to a range of 16,000 to 17,000 brokers
over the next year.
- The U.S. Treasury Office of Thrift Supervision closed First Bank of Idaho Friday. Some of the 110 employees will be laid off, according to Jackson Hole Daily.
It's rough out there, but there are
jobs to be found. Moelis & Co.
is hiring and
so are Jefferies Group Inc., Cantor Fitzgerald LP and BTIG LLC.
For a roundup of all the announced layoffs to date, check out The Deal's Pink Slips on Wall Street Dealwatch or any of the links below. Also feel free to leave us any layoff tips or rumors you are hearing. - Maria Woehr
(Follow me on twitter or send me tips: @newsgirlmw)
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