It’s no secret that Wall Street firms are facing a bleak holiday season. Between government bailouts and financial market losses squeezing year end bailouts, layoffs emptying desks and cancelled Christmas parties, morale is probably at an all time low on Wall Street.
But employees at Barclays Capital, which bought the bankrupt Lehman Brothers this fall, have new reason for unmerry making: there’s no Christmas tree in the lobby at 745 Seventh Avenue. In years past, employees returning from the Thanksgiving holiday would discover two huge trees and a big sled in the lobby. But that bit of holiday cheer is gone now. The lobby is bare, and some employees say it is heartbreaking.
“It is tragic,” one former Lehmanite, and current Barclehsian, tells us.
At Goldman Sachs they have set up a Christmas tree, although a Goldman employee tells us that the decoration is a bit downplayed since last year. We are still awaiting reports on the tree situation at Merrill Lynch and Morgan Stanley.