Good news for those who have been laid off in the financial sector: Banks are more willing to hire you these days, as opposed to yesteryear, when being laid off was a huge obstacle to finding a new gig.
This new generosity stems from banks' desire to do two things: Find really good talent which may not have been available before, and perhaps more importantly, find really good talent that's not too expensive. By scooping up those who already have been laid off, banks don't have to jockey to promise bonus guarantees to those ensconced at their competitors.
Financial News reports that a recent survey of 150 City headhunters in London found recruiters are more willing to hire those without jobs because the sheer volume of layoffs -- more than 135,000 last year -- means that whole teams of talent are now available, removing the stigma of being out of work.
The headhunters said there's demand for talent in debt capital markets, but not in equity capital markets or in mergers and acquisitions.
Bank of America is continuing to cut billions in costs. Since it began the plan last summer, it's cut over 12,000 jobs. Only 18,000 to go!
Where Are They Now (Financial News)
Stephen Morse, the former compliance head at Barclays who was name-dropped in testimony this week about his possible role in the Libor rigging, is currently holed up at TD Bank in Canada.
Credit Suisse is putting aside more capital to please regulators and also embarking on another round of cost cuts. Those last two words usually tend to mean job losses, even if Chief Executive Brady Dougan won't say so.
It's time to get over your tiff with the woman in the cubicle diagonal to yours. It's a waste of time.
VTB Capital, the Russian investment bank, has lured away Peter Stonor from Royal Bank of Scotland as head of infrastructure and transport. The Russian bank has been hiring hundreds this year as its Western counterparts retrench.
A new HBO movie takes a look at middle-class Americans who have lost their jobs in the great recession.
Buzz Around the Office
Rapper Pitbull confirmed that he is set to visit the most remote Wal-Mart in the U.S. – on Kodiak Island off the coast of Alaska – after a Facebook promotion was essentially hijacked by a creative group of pranksters.
List of the Day: The Right Handshake
Everyone knows a good handshake is essential in the workplace. Here are a few kinds to avoid.
1. The dead fish. Don't just lie there, do something.
2. The knuckle cruncher. Don't grip too hard.
3. The two-handed. One hand will suffice.
(Source: The Daily Muse)
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