The Big Board Isn't So Big Anymore

"As new technology is introduced," [Michael LaBranche] told analysts recently, "there will probably be further reductions in personnel on our trading floors. How much of a reduction, I don't know. But much will depend on volumes." LaBranche has cut its work force in half sin...

Full description

Saved in:
Bibliographic Details
Published in:Traders magazine 2006-12, p.1
Main Author: Chapman, Peter
Format: Magazinearticle
Language:English
Subjects:
Downsizing
Flooring
Human resource management
Securities
Securities industry
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:"As new technology is introduced," [Michael LaBranche] told analysts recently, "there will probably be further reductions in personnel on our trading floors. How much of a reduction, I don't know. But much will depend on volumes." LaBranche has cut its work force in half since 2001, the exec said Many of those traders at Bear Wagner may not be around for too much longer anyway. Traders Magazine has learned that Bear Stearns, Bear Wagner's majority owner, is in the process of buying out the partners. At presstime, the deal had not yet been approved.
ISSN:0894-7295