Bank job cuts are coming — here’s what you need to know1 min
Bank job cuts are coming — here’s what you need to know1 min
Labor/Personnel
Special forces training, dogs and six-figure salaries — how law firms are trying to keep staff happy
Resilience training from former soldiers, dogs in the office and £160,000 salaries for juniors are just some of the ways London law firms are trying to keep their staff happy during a challenging period for morale. Salaries have spiralled in the sector since 2020, with pay topping £160,000 for newly qualified lawyers at some US … Read more
Klarna CEO draws criticism for posting emails of almost 600 ‘Klarnauts’ who lost jobs
The chief executive of embattled buy-now-pay-later company Klarna drew criticism for publishing a list of the hundreds of employees he has let go. Sebastian Siemiatkowski posted the list on LinkedIn, a week after announcing job cuts for about 10% of Klarna’s global workforce. The 565 so-called “Klarnauts” volunteered to have their names added to the list. The … Read more
Looking for $100,000 Salary? See How Much the Biggest U.S. Companies Pay Workers
Wages for the median workers at the majority of big American companies are higher than they were before the pandemic, with the tight job market helping to lift paydays for many bank tellers, factory workers and software programmers. Compensation in 2021 for the median worker at 275 companies in the S&P 500 index was higher … Read more
Raymond James boss Paul Reilly bets big on the UK: ‘I don’t have a cap on the number of hires’
It is June 2016. The UK votes to leave the EU. Reports predict thousands of job losses and a severe decline in the City of London. That’s when bosses at Raymond James began the company’s push into European investment banking. Some questioned whether the US mid-market specialist’s foray into the UK and Europe would last. … Read more
FCA strike sees staff picket Stratford HQ: ‘Hey, hey, FCA much more work and much less pay’
Around 40 staff picketed the Financial Conduct Authority’s headquarters in Stratford this morning as employees began the first industrial action in the regulator’s history. The protestors arrived in convoy at around 8.40am on 4 May in a demonstration aimed to get the watchdog back around the table to discuss its new offer on pay and … Read more
New York City Companies Prepare to Put Pay Ranges on Job Listings
New York City employers are hustling to figure out what to do about impending salary-disclosure rules, while hoping for a delay. A sweeping pay-disclosure law requiring nearly all companies operating in the city to include pay ranges on job postings is set to take effect in under a month. With the deadline approaching, employers have … Read more
City workers moving jobs see 22% salary bump as competition for talent intensifies
City workers changing jobs in the first quarter of the year have received a typical salary bump of 22% amid a fierce battle for talent across financial services. This is “indicative of the short supply of candidates available within the London financial services markets,” said Hakan Enver, managing director at recruitment firm Morgan McKinley UK. “The … Read more
Hot hiring market for London lawyers continues into 2022 despite M&A slump
The booming recruitment market for lawyers in London has stayed hot into 2022, despite a slowdown in deal flow and worries about the impact of rising inflation and the war in Ukraine. Data on legal market hiring from recruitment firm Robert Walters and data provider Vacancysoft showed strong demand for legal talent did not slow … Read more
Jamie Dimon says just 50% of JPMorgan’s employees will work in the office full-time
Only around half of JPMorgan’s 270,000 staff will work from the office full-time, as the US banking giant has overhauled its workforce in the wake of the Covid-19 pandemic. In his sweeping annual shareholder letter, JPMorgan chief executive Jamie Dimon said that “it’s clear that working from home will become more permanent in American business”, … Read more