Investment banks are sharpening the axe
Which of their workers are first on the chopping block?
“Let’s define busy” read a memo circulated to rookie investment bankers at Donaldson, Lufkin & Jenrette in the mid-1990s. “You are busy if you are working each weekday at least 16 hours and at least 16 hours on the weekend. These are working hours—not travelling, gabbing or eating time. If these are not your hours at the office, you have the capacity to take on more work.”
This article appeared in the Finance & economics section of the print edition under the headline “Sharpening the axe”
Finance & economics October 1st 2022
- Financial markets are in chaos. What next for the real economy?
- Global rate rises are happening on an unprecedented scale
- Japan’s monetary policymakers are sticking to their guns
- The world enters a new era: Bail-outs for everyone!
- Investment banks are sharpening the axe
- Economists now accept exchange-rate intervention can work
From the October 1st 2022 edition
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