Bad times for IB

<p>Wall</a> St. Layoffs Take Heavy Toll on Younger Workers - NYTimes.com</p>

<p>No surprise. That has been where the industry was heading since 2008. I feel worse about the multitude of 40/50 yr old guys laid off with several kids in private schools/colleges, several mortgages and no job prospects. Most havent amassed savings that will carry them through retirements since they’ve needed their 1-3mil a yr to live on.</p>