Big Layoff at MSSB today

12 replies [Last post]
TopNotch's picture
Offline
Joined: 2009-08-20

I was part of a big layoff as MSSB today, our entire class and others were let go today even when exceeding expectations.  WTF!!!

rogerballs's picture
Offline
Joined: 2010-01-04

Copy your book and go INDY!!! no account minimums, no managers, no top level management assholes taking your cash! Higher payout! PM me if I can help,  

squash2's picture
Offline
Joined: 2010-03-09

I call BS on the MSSB layoff...

supervet's picture
Offline
Joined: 2010-09-23

Is this true? I tried to google it and couldn't find anything about it.  

Mach1's picture
Offline
Joined: 2010-09-25

I can confirm a layoff in our office.

NOVA's picture
Offline
Joined: 2005-01-11

just your branch? 

squash2's picture
Offline
Joined: 2010-03-09

Big layoff and layoff are two different things.1. Big layoff: wouldn't be able to keep quiet more people would chime in, there would be some media coverage.2. Layoff: 1. Underperforming reps 2. Consolidation(lack of space with MS and SB merger) most likely.. 3. Could be your location only..

TopNotch's picture
Offline
Joined: 2009-08-20

it was firm-wide.  5 in our office varied from underperforming to over performing all gone. many more in the complex.  our office consolidated a year ago, it happened on both sides MS and SB.  Everyone LOS less than a year.

Flyonwall's picture
Offline
Joined: 2010-03-25

That sucks.  What region are you in?

mssbideas's picture
Offline
Joined: 2010-09-25

I work at MSSB in Los Angeles Complex.  15 sub 18 month brokers were fired.  They are cleaning house.  Cutting dead weight. New brokers under tier 3.  

Greenbacks2's picture
Offline
Joined: 2010-03-03

Why the suprise? Wire houses have been treating people like this for years! This is how they grow, bring in new faces get them to call all the people they know and then fire them. Same OOOOh same OOOOh

squash2's picture
Offline
Joined: 2010-03-09

mssbideas wrote:I work at MSSB in Los Angeles Complex.  15 sub 18 month brokers were fired.  They are cleaning house.  Cutting dead weight. New brokers under tier 3.   Exactly... cutting the fat...and ready to rehire and try their luck again..

BigFirepower's picture
Offline
Joined: 2010-07-09

Folks that are looking to come into this biz, should see this. This is a tough career choice normally, all the more difficult these days.

Please or Register to post comments.

Industry Newsletters
Careers Category Sponsor Links

Sponsored Introduction Continue on to (or wait seconds) ×