boa_boy Posted April 20 Report Share Posted April 20 If you are an IT individual @ Merrill (or anywhere for that matter) and get laid off then feel free to send ur resume to me @ boa_boy@yahoo.com........I'm an IT recruiter BTWOtherwise if you're non-IT and need help in job searching or putting together a resume or whatever then drop me an email as well........I'm happy to help ------------------New Residency! Every Friday @ Vinyl ;-) .................. boa_boy@yahoo.com YIM boa_boy AIM boaboyOZ Quote Link to comment Share on other sites More sharing options...
bang_66_ Posted April 20 Report Share Posted April 20 It's not just ML or IT in particular, it's the entire industry. My firm is aiming for a 7% reduction in work force. Such is the way of a recession. Quote Link to comment Share on other sites More sharing options...
cathyo Posted April 20 Report Share Posted April 20 FUCK!!My ex husband works in the tech area for Merrill. Anthony, where are you? NY or Jersey City?Jesus Christ, that would be my luck! Court date next week, they'd finally make him send some $$ for the kids, then boom...his job is gone.I hope he doesn't lose it As much as I can't stand him, I need him to help out monetarily!------------------ ~*~*~Don't use time or words carelessly, neither can be retrieved.~*~*~ AIM: cathyoNYC Quote Link to comment Share on other sites More sharing options...
tyco Posted April 20 Report Share Posted April 20 I got hired in November to work for the Private Client Technology Division and I start training in July.......now I'm nervous........I hope I don't get canned before I even start.......tyco------------------"I don't want a piece....I want the whole thing....." - Bob Barker Quote Link to comment Share on other sites More sharing options...
cheeks Posted April 20 Report Share Posted April 20 not to worry tyco...here's whyThey try not to fire new college hires in cut backs; it REALLY hurts recruiting. JPM did it in '94 when the shite hit and they are still paying for it. More importantly, the goal is not to reduce headcount, but to trim costs and try to pare down the earnings hits in this down market. The first people to go are the half million dollar VPs. Since your salary basically a rounding error compared to theirs, it is hard to justify letting you go.Also, Private Client is a good place to be. ML's fat retail broker network is fucking them right now, so expect more deep cuts there. Private Client is a growing market that all the big banks are keying on right now. All the rich folk are scared shitless and feel more comfortable handing their money over to pros that working it themselves. you should be ok *crosses fingers* enjoy the summer ---cheeks ------------------"If ever you realize that what you are watching is, in fact, a play within a play, sit back, relax, and HOLD ON FOR THE RIDE ON YOUR LIFE!" Quote Link to comment Share on other sites More sharing options...
djfabioc Posted April 20 Report Share Posted April 20 Originally posted by boa_boy:If you are an IT individual @ Merrill (or anywhere for that matter) and get laid off then feel free to send ur resume to me @ boa_boy@yahoo.com........I'm an IT recruiter BTWOtherwise if you're non-IT and need help in job searching or putting together a resume or whatever then drop me an email as well........I'm happy to help I need a It Job but in CT!------------------IT IS NICE TO BE IMPORTANT BUT IS MORE IMPORTANT TO BE NICE!aol IM- djfabiocEXIT -G U E S T L I S T guestlis@optonline.net Quote Link to comment Share on other sites More sharing options...
Guest danwang Posted April 20 Report Share Posted April 20 http://dailynews.yahoo.com/h/nm/20010420/bs/financial_merrill_jobcuts_dc_1.html ------------------We're alive, take a breathWe're alive, take a deep breath Quote Link to comment Share on other sites More sharing options...
Guest danwang Posted April 20 Report Share Posted April 20 Originally posted by cathyo:Jesus Christ, that would be my luck! Court date next week, they'd finally make him send some $$ for the kids, then boom...his job is gone.Clubber with kids? A new thing to me ------------------We're alive, take a breathWe're alive, take a deep breath Quote Link to comment Share on other sites More sharing options...
starchild- Posted April 20 Report Share Posted April 20 Originally posted by cheeks:not to worry tyco...here's whyThey try not to fire new college hires in cut backs; it REALLY hurts recruiting. JPM did it in '94 when the shite hit and they are still paying for it. More importantly, the goal is not to reduce headcount, but to trim costs and try to pare down the earnings hits in this down market. The first people to go are the half million dollar VPs. Since your salary basically a rounding error compared to theirs, it is hard to justify letting you go.Also, Private Client is a good place to be. ML's fat retail broker network is fucking them right now, so expect more deep cuts there. Private Client is a growing market that all the big banks are keying on right now. All the rich folk are scared shitless and feel more comfortable handing their money over to pros that working it themselves. you should be ok *crosses fingers* enjoy the summer ---cheeks That's bulls**t. The first people to be fired at my company were the college grads, since there were more of them, and it gave them the #'s of layoffs they were looking for. Remember it's the VPs who are in charge of the layoffs. They back each other up, and in my case, ALL of them stayed until the very end. Just telling you my experience. It's all buddy-buddy, and not about the bottom line...------------------ Quote Link to comment Share on other sites More sharing options...
cheeks Posted April 20 Report Share Posted April 20 I was strictly talking about bulge-bracket firms like ML, at the chop shops you are certainly correct. btw, its the 4 million dollar MDs who make the layoff decision, not the half million $ VPs. think about it, what more productive for the same cost savings, 1 VP or 9 analysts? I also forgot one thing; I was only talking about "revenue jobs" ie investment banking, trading, etc. Back office jobs like operations and accounting are fair game.---cheeks------------------"If ever you realize that what you are watching is, in fact, a play within a play, sit back, relax, and HOLD ON FOR THE RIDE ON YOUR LIFE!"[This message has been edited by cheeks (edited 04-20-2001).] Quote Link to comment Share on other sites More sharing options...
cathyo Posted April 21 Report Share Posted April 21 Originally posted by danwang: Clubber with kids? A new thing to me I have 2 boys!! They're awesome ------------------ ~*~*~Don't use time or words carelessly, neither can be retrieved.~*~*~ AIM: cathyoNYC Quote Link to comment Share on other sites More sharing options...
anthony Posted April 21 Report Share Posted April 21 OH MY GOSH!! some peeps from work whom I've worked with just got laid off.I'm sitting on needles and pins right now,Technology area which I work in are getting hit the hardest,so between now and next Wednesday will I still have a job,only 38 years old and been with Merrill for 18 years.Well honey life goes on......I hear Junior calling.Peace------------------13 wild years of Junior Vasquez!!! DROP A HOUSE ON THAT BITCH!!! Quote Link to comment Share on other sites More sharing options...
blueangel Posted April 21 Report Share Posted April 21 Anthony! You work at ML?? So, do I!! I know I'm sitting on needles right now too. Are you in the downtown office?BlueAngel------------------“Remember that happiness is a way of travel, not a destination.” - Roy Goodman Quote Link to comment Share on other sites More sharing options...
bre5379 Posted April 21 Report Share Posted April 21 I work at ML too. There are so many cut backs right now! Everyday is getting worse. When is it going to end??Breann Quote Link to comment Share on other sites More sharing options...
blueangel Posted April 21 Report Share Posted April 21 I don't know, but I'm getting real tired of seeing brokers after brokers being pulled into the conference room to be told that they are being let go. BlueAngel------------------“Remember that happiness is a way of travel, not a destination.” - Roy Goodman Quote Link to comment Share on other sites More sharing options...
mrdick Posted April 21 Report Share Posted April 21 I work at merrill lynch in Canada and things are tough all over. I'm a broker so I can't get laid off but I'll tell ya that the commission cheques are getting pretty sparse. Quote Link to comment Share on other sites More sharing options...
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