Should we expect big layoffs in 2021 especially in trading and other business lines? (Banks like Citi/MS who pledged no layoffs in 2020)

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I feel like double layoffs in 2021. However, I’ve seen a lot of people leave my firm during the pandemic which is weird.

Expect layoffs in 2021

HL, Blair, RBC, Nomura, Baird already cut 10-20%

Probably depends on the area. On trading side, if / when we see revenues start to normalize or shrink, expect larger layoffs next year. On the operations side, they’ve paused productivity layoffs, but are merely adding on top of the target goals for next year.

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