Fin Review, Rear Window, Wed 18 December.CUTTING REMARKS AT...

Fin Review, Rear Window, Wed 18 December.

CUTTING REMARKS AT MACBANK

"The word "retrenchment" just doesn't seem to fit in the same sentence as Macquarie Bank, which has been a proud winner in many "employer of the year" contests over the years. But then it has been a year of the unthinkable at the hallowed millionaire factory.

Speculation is sweeping the corridors of MacBank that a resonably sized cut is imminent, most likely early next year. The number being mentioned in the chatteris 500 staff, across all divisions, including the hallowed investment banking and infrastructure units.
Macquarie's last reported staff number was just more than 5000 meaninig a cut of 500 people would be a hefty ten percent. etc"

The message is clear.
The signs are dire.
MacBanks greatest asset is it's devoted and highly capable staff. After a year of tirelessly building up the bank's assets, they have lost all the real value of their remmuneration, namely their OPTIONS.
Now add the fear of retrenchment and you have a formula for disaster.
It's going to be an anxious Xmas for top management.
NEW YER PREDICTIONS:
1. Allan Moss will be sacrificed and put out ta pasture.
2. Profits will be downgraded throughout the year.
3. Clark will retire to his vinyard.
4. Moore will take a job at 2GB as a desk clerk.
5. Institutional & Fund Managers will cut MBL to shreds.

nq