The good news for former MF Global employees: Despite the firm’s now notorious name—associated with possible rule breaking within the futures industry and up to $1.6 billion of missing client funds, their connection to the former employer won’t hurt them in their new job search.The bad news? Many laid-off employees of the bankrupt firm can’t land new jobs anyways because of the economy.
One of those unfortunate employees is Dan Whiteford, who used to clear trades and deal with clients at MF Global, according to Julie Steinberg at the Wall Street Journal. Since MF Global filed for bankruptcy and laid off nearly all its employees last year, Whiteford has applied for jobs at Target and at a car factory to no avail. At MF Global, Whitehead made up to $70,000 a year.
Most of the firm’s moneymakers and lower-ranking employees have been able to find work. But others, such as senior employees in non-revenue-generating roles like operations and technology, haven’t been as fortunate.
We can only wish them the best of luck.