According Charlie Gasparino, it’s an absolute bloodbath at brokerage Lazard Capital Markets. He did a spot on the story on Fox Business this afternoon.
Gasparino’s comments (via Street Insider):
“If you talk to anybody that works there they say the place is basically on its last legs.”
“Sources are telling the FOX Business Network that there is a mass exodus out of Lazard Capital Markets by employees…They feel that the firm is either going to do one of three things: sell itself to somebody else where they’ll do a massive downsizing or basically look for refinancing which is very difficult or shut down. Lazard tells us they’re still open for business, there’s no plans to imminently close…if you talk to anybody that works there they say the place is basically on its last legs.”
This conflicts with Bloomberg’s ‘business as usual’ story at the end of last month, when A Lazard spokesperson said the firm had no plans to shut down.