While Bank of America convinced the overwhelming majority of Merrill Lynch brokers to stay on board after the two firms merge, many others at Merrill are in a very grim mood. We had drinks with a Merrill employee last night who described working at the firm as being akin to finding yourself on death row.
“It’s like the Green Mile,” he said, referencing the popular movie.
Merrill employees describe the uncertainty about their future employment prospects as destroying morale. Many fear that they will be laid off when the merger is complete.
“No one knows who will get fired. So everyone assumes it is them,” one Merrill employee said.
Employees complain that they’ve had to cancel vacations and hold off on making major purchases as they await to learn their fate. “We’re living with our life on hold,” another Merrill employee told us.
Perhaps the most colourful description of working at Merrill came from a science fiction fan at the firm. “It’s like we’re aimlessly floating in zero gravity, waiting for someone to flip the switch. That’s when we’ll free fall into the ground and die,” she said.
[Editor’s note: Send us your own stories. Email [email protected] or text us at 646-526-3327.]
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