As in any merger, there are cuts.  I’m at ML and have lost several of my colleagues but it has been known that there is upwards of $7 billion in cost-savings that they are searching for (and obviously finding in POA/PMD, CA and management).  I’m not surprised by the cuts buy maybe a bit of the logic of individual choices.

How many people who KNOW BAI have posted clear warnings about the fate or future of ML on this board? Hundreds if not thousands!  It’s a colossal disaster and no matter how loyal a person is to Mother Merrill, it’s not going to change or ever go back. The genie is out and it’s one fu_king ugly Genie!

I have been with ML for 21 years and the changes and cutbacks we are seeing now are the same as we have saw every time we have a market correction.  Without B of A our faith would have been the same as Lehman and we would all be on the street.  We can not forget that B of A is helping us and we are the anchor on their ship

[quote=bull21]

I have been with ML for 21 years and the changes and cutbacks we are seeing now are the same as we have saw every time we have a market correction.  Without B of A our faith would have been the same as Lehman and we would all be on the street.  We can not forget that B of A is helping us and we are the anchor on their ship

We had 10 CA’s in our complex let go today(covering approx 70 FA’s). There was no guidelines…some were registered with LOS 15yrs-25yrs…others were brand new. The only consolation was the severance packages were quite good with some CA’s getting close to 1 year. 

We had 10 CA’s in our complex let go today(covering approx 70 FA’s). There was no guidelines…some were registered with LOS 15yrs-25yrs…others were brand new. The only consolation was the severance packages were quite good with some CA’s getting close to 1 year. 

99% sure I will be laid off tomorrow.  Pathetic thing is manager is going to be conveniently out of the office and someone else is coming in to do the dirty deed.  I always knew this was a classy guy   As difficult as it is, I at least have a backup plan and will be fine, but a lot of good people will not be as fortunate. 

Found out recently too that while the manager was saying his BS out of one side of his mouth, he has been talking to every firm he can about leaving.  Nobody wants him.  Like I said…classy guy

[quote=merrillnomore]

99% sure I will be laid off tomorrow.  Pathetic thing is manager is going to be conveniently out of the office and someone else is coming in to do the dirty deed.  I always knew this was a classy guy   As difficult as it is, I at least have a backup plan and will be fine, but a lot of good people will not be as fortunate. 

We just had a CA let go in our office. She was probably the best CA in the office but was let go simply because she wasn’t registered. They kept a brand new CA who isn’t even that good simply because he is registered. This is just wrong in so many ways.

I was laid off this morning as expected.  I am registered, worked for several FAs and ran the operations side of the office.  They are going by how much they pay somebody and it has nothing to do with registration.  Remember the people making these decisions are bean counters and their job is to cut costs which is exactly what they are doing.