Merrill 2008 hiring freeze memo Monday, August 18, 2008
Image via Wikipedia Well I definitely called it wrong for this year at least, with my post suggesting Merrill Lynch in London would be expanding to soak up the tax losses. A leaked Merrill Lynch internal memo featured in Here Is The City states that they have imposed a global hiring freeze for the rest of 2008. The freeze will be imposed across the board, excluding retail broking, and will apply to
- positions where budget has already been allocated
- permanent, contract and temporary positions, and includes replacement hires
- contract renewals are forbidden
That should ensure there will be hordes of recruitment agents crying into old job specs reminiscing about the good old days.
Labels: Merrill Lynch
- At 2:16 PM, said...
Guess another way to soak up tax losses is to cut costs = more profit