Hey all, ~7 years I've been working with fixed income analytics (duration, spread, etc) and perf attribution for institutional inv mgmt firm with close to $400B aum.

I'm being laid off in a couple months. Should I say I'm being laid off in interviews? Or is that a negative? I get severance if I stay the whole time so ideally I can time it. Have finance degree, CFA charter.

Most of work has been IG, but also some HY, EM and equity. Want to go into equity research/PM- worried I'm pigeonholed

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You should probably use the term- restructuring.
That’s what the firms use it officially too when they report to FINRA.

Generally, your experience should matter and to the question - Why the move? You can mention that the team got restructured or there was a different direction for the team.
I am guessing that is also close to the actual reason of layoff too.

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No need to mention being laid off, just say you’re looking for a new opportunity to grow and that your current role has gotten stale. You have some run way before you’re actually laid off and interviewing, offer, bg check and finally giving your two weeks notice will take some time. I’ve seen some companies be okay with a 4 week notice post bg check before starting.

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Being laid off is very understandable, so no need to try to dance around it especially if you are part of a big layoff round. As far as prospects on the equity side, expect to go into a more junior role if you want to do research. Your fixed income could be valuable to a shop, most likely a value oriented firm, that emphasizes downside protection through knowing companies’ balance sheets inside and out.

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Thanks, great advice! I'll definitely look to do something like that, in addition to getting some outplacement services

I don’t have the answer on this one but I assume you don’t have to disclose if you don’t want to. What is the reason for being laid off?

I'm not sure what the official reason they gave me, probably performance. Which is weird because I've gotten I think 4/5 for every full year I worked, except this one. Usually reviews are pretty short, but my mgr gave me a 2 out of 4, with a dissertation's length list of items he said I messed up on (most of which not my fault or blame should be shared). I know he didn't write the items this year, and pretty certain it was our new director level mgr who I absolutely know doesn't like me. All my coworkers I've mentioned it to are flabbergasted that I was one of the ones chosen, and it doesn't seem like an apologetic surprise either.

As mentioned elsewhere, restructure is a good one, I'll use that. They tried bifurcating our performance attribution, and analytics team, hiring someone external in a director role to cover analytics. They had me go to analytics, then they switched up and had me go to attribution. The reality is they never peeled off my workload from either set of responsibilities, too knowledgeable about the processes to leave the other group hanging. So I was stuck in the middle ultimately getting a negative on my review for "not taking on new work" like I was apparently supposed to. But I never got work taken off my plate from attribution. I made it clear to my manager (not the new director) that I wasn't happy about moving to analytics because the analyst over there I'd be working with is a complete idiot. So if that was discussed to the new director, then that was used against me. Now, both groups are again managed by the same person (the new director). Writing this all out make it seem like a mess.

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Sorry about your situation, that sucks. Sounds like you know your stuff too. I’m just getting started in with analytics/perf attribution and it’s really interesting work. Feel free to message me if you want to chat more

I’d mentioned in interview of layoffs at prior firm and that I had been stranded with double if not triple the workload. The hiring manager took it as ‘being candid’ and gave me an offer. Folks who had lived through 2008 and other crisis know layoffs are not reflective of your capability of doing super job…

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