CSFB CEO Brady Dougan has said that staff wouldn't have long too wait long before they learned of their fate. And he seems to have been as good as his word, as stories are circulating that some job cuts have already been made.
The firm announced the results of its recent review last week. And although job cuts of around 300 are relatively modest in the grand old scheme of things, they will be painful for those staff tapped on the shoulder.
Cuts are thought likely to be made in equities and sales and trading. Some investment bankers are also thought likely to go. But it seems to be the analysts who have been the first to leave. According to The Wall Street Journal, four top rated equity analysts are said to have already gone. The newspaper says that there have been other reports that about a dozen staff in the research department were pink-slipped as early as last week. Over in Europe, redundancies are thought likely to take place just after Christmas.
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