Earlier this morning, we heard from a tipster that there are big layoffs coming at Ken Griffin’s Citadel Securities in the Fixed Income unit, a branch of the investment bank Griffin hopes/once hoped would become the next Goldman Sachs.
A Citadel Securities media representative denied the story.
Now another anonymous source has come forth to say that there has been a lot of chatter at Citadel Securities because it’s year end review time, and everyone’s worried about which units will be allocated what. Our tipster says nothing has been decided yet, but that there’s been some talk by people at the firm who are worried about cuts.
On the one hand, who wouldn’t be worried about cuts? There have been cuts across many Wall Street firms.
So maybe this is no big deal.
On the other hand, Citadel Securities has been struggling to establish a presence in the investment banking world as we mentioned this morning, and everyone’s making cuts, and the Fixed Income group was singled out by our earlier tipster.
So there’s what we’ve heard, take it for whatever you will.