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Morning Coffee: The Bank That Lost Its Mds And Found Some Juniors To Replace Them. Morgan Stanley's New Friends

by news.efinancialcareers.com posted 4months ago 198 views
The embodiment of a false economy. : There is a paradox of cost cutting exercises, which is that they tend to over-deliver on the headcount reductions. If you fire 10%  of your staff, then you will typically find that another 10% leave. This would be good news for cost cutting managers, except that the 10% who leave tend to include many of the ones that you wanted to keep. As soon as a headcount reduction is rumoured, sensible bankers will start feeling out the market to see what their options are if the worst comes to the worst.

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