Last visit was: 14 May 2026, 00:59 It is currently 14 May 2026, 00:59
Home
Messages
Tests
Schools
Events
Close
GMAT Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Go to My Error Log Learn more
Close
Request Expert Reply
Confirm Cancel
User avatar
Ozmba
User avatar
Joined: 14 Feb 2005
Last visit: 27 Aug 2013
Posts: 953
Own Kudos:
30
Location: New York
Posts: 953
Kudos: 30
Few MBA grads from Class of 2007 - Got fired Updated on: 13 Dec 2007, 21:26
Originally posted by Ozmba on 13 Dec 2007, 20:02.
Last edited by Ozmba on 13 Dec 2007, 21:26, edited 4 times in total.
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Just after 6 months into their career-they were shown the door ---The worst effected were international fellas who are on H1B visa
avatar
gmatclb
avatar
Joined: 09 Jan 2007
Last visit: 14 Jun 2009
Posts: 706
Own Kudos:
27
Posts: 706
Kudos: 27
Few MBA grads from Class of 2007 - Got fired 13 Dec 2007, 20:13
Kudos
Add Kudos
Bookmarks
Bookmark this Post
That's too bad.

How did you hear? Article?

I'm sure there are worse stories or similar stories out there.
User avatar
dosa_don
User avatar
Current Student
Joined: 07 Aug 2007
Last visit: 10 Jul 2009
Posts: 1,062
Own Kudos:
32
Posts: 1,062
Kudos: 32
Few MBA grads from Class of 2007 - Got fired 13 Dec 2007, 20:38
Kudos
Add Kudos
Bookmarks
Bookmark this Post
It does suck...but the H1-B guys will have a little more time than 2 months. Most companies give you ATLEAST a 2-3 month severance package. And the company has to nullify the H1B (which most companies dont), so the guys will have 2-3 + 2 months for a total of 4-5 months.

Which company and how many are impacted by the way.
User avatar
pelihu
User avatar
Joined: 31 Jul 2006
Last visit: 11 Jan 2010
Posts: 2,208
Own Kudos:
526
Schools:Darden
Posts: 2,208
Kudos: 526
Few MBA grads from Class of 2007 - Got fired 13 Dec 2007, 20:54
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Can you point out your source? I have not heard about any layoffs of recent hires at any of the big banks. I'm talking with pretty much all of them next week so I would like to confirm the information before asking about it.
User avatar
Ozmba
User avatar
Joined: 14 Feb 2005
Last visit: 27 Aug 2013
Posts: 953
Own Kudos:
30
Location: New York
Posts: 953
Kudos: 30
Few MBA grads from Class of 2007 - Got fired Updated on: 14 Dec 2007, 12:10
Originally posted by Ozmba on 13 Dec 2007, 21:25.
Last edited by Ozmba on 14 Dec 2007, 12:10, edited 1 time in total.
Kudos
Add Kudos
Bookmarks
Bookmark this Post
pelihu
Can you point out your source? I have not heard about any layoffs of recent hires at any of the big banks. I'm talking with pretty much all of them next week so I would like to confirm the information before asking about it.
Show more


Sent you a PM ..
User avatar
toDoorNot
User avatar
Joined: 12 Aug 2007
Last visit: 08 Feb 2009
Posts: 324
Own Kudos:
6
Posts: 324
Kudos: 6
Few MBA grads from Class of 2007 - Got fired 13 Dec 2007, 22:37
Kudos
Add Kudos
Bookmarks
Bookmark this Post
This is something which scares me too.. wht if the economy is bad and we dont get recruited.... this is especially scary since i have ridden the .com bust of 2002-2003 when i was graduating..
User avatar
bherronp
User avatar
Current Student
Joined: 24 Apr 2007
Last visit: 30 Mar 2010
Posts: 588
Own Kudos:
17
Posts: 588
Kudos: 17
Few MBA grads from Class of 2007 - Got fired 13 Dec 2007, 23:05
Kudos
Add Kudos
Bookmarks
Bookmark this Post
toDoorNot
This is something which scares me too.. wht if the economy is bad and we dont get recruited.... this is especially scary since i have ridden the .com bust of 2002-2003 when i was graduating..
Show more


Same here
User avatar
BCC145
User avatar
Joined: 14 May 2006
Last visit: 27 Apr 2009
Posts: 165
Own Kudos:
16
Posts: 165
Kudos: 16
Few MBA grads from Class of 2007 - Got fired 14 Dec 2007, 00:41
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Oz, you mean the grads were fired or laid off? I assume in IB or related roles?

I am not really sure what you mean here by just reading your post. It would be great if you could clarify.
User avatar
trader1
User avatar
Joined: 30 Jul 2007
Last visit: 04 Jul 2012
Posts: 385
Own Kudos:
62
Given Kudos: 5
Location: Europe
Concentration: General Management
Schools:St. Gallen '09
Posts: 385
Kudos: 62
Few MBA grads from Class of 2007 - Got fired 14 Dec 2007, 01:00
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Ozmba2006
Just after 6 months into their career-they were shown the door ---The worst effected were international fellas who are on H1B visa
Show more


Oz,

Can you please send me a PM with the source info?

Thanks,
William
User avatar
BCC145
User avatar
Joined: 14 May 2006
Last visit: 27 Apr 2009
Posts: 165
Own Kudos:
16
Posts: 165
Kudos: 16
Few MBA grads from Class of 2007 - Got fired 14 Dec 2007, 01:05
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Could you please PM me as well? I am very interested in this info.

Thanks,
User avatar
darren1010
User avatar
Joined: 06 Feb 2006
Last visit: 25 Apr 2009
Posts: 219
Own Kudos:
5
Posts: 219
Kudos: 5
Few MBA grads from Class of 2007 - Got fired 14 Dec 2007, 02:23
Kudos
Add Kudos
Bookmarks
Bookmark this Post
it's what I'm worrying about. Spending +100K for MBA and jobless!!! It would be a nightmare!!
(BTW, it's interesting to see how chatty our forum is :lol: :lol: )
avatar
gmatclb
avatar
Joined: 09 Jan 2007
Last visit: 14 Jun 2009
Posts: 706
Own Kudos:
27
Posts: 706
Kudos: 27
Few MBA grads from Class of 2007 - Got fired 14 Dec 2007, 07:32
Kudos
Add Kudos
Bookmarks
Bookmark this Post
It seems like people that work in the IB departments of these big banks are the first to be let go. Specifically, MBA noobs.
User avatar
zakk
User avatar
Joined: 17 Jul 2007
Last visit: 28 Jul 2008
Posts: 230
Own Kudos:
7
Location: The 408
Posts: 230
Kudos: 7
Few MBA grads from Class of 2007 - Got fired 14 Dec 2007, 10:26
Kudos
Add Kudos
Bookmarks
Bookmark this Post
an MBA doesn't get you an invisible layer of armor. They were on the bottom rung, and the axe always swings low.

Sounds about right to me.
avatar
gmatclb
avatar
Joined: 09 Jan 2007
Last visit: 14 Jun 2009
Posts: 706
Own Kudos:
27
Posts: 706
Kudos: 27
Few MBA grads from Class of 2007 - Got fired 14 Dec 2007, 10:46
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Funny how they lay people off and then turn around to hire more.
User avatar
Finding Perdition
User avatar
Joined: 05 Mar 2007
Last visit: 27 Jul 2008
Posts: 81
Own Kudos:
8
Posts: 81
Kudos: 8
Few MBA grads from Class of 2007 - Got fired 14 Dec 2007, 10:53
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Wow! :( :? :oops: :shock:

This just tells you how competitive you have to be. Esp. after an MBA

Can you PM the source too...would love to see that.

FP
User avatar
BCC145
User avatar
Joined: 14 May 2006
Last visit: 27 Apr 2009
Posts: 165
Own Kudos:
16
Posts: 165
Kudos: 16
Few MBA grads from Class of 2007 - Got fired 14 Dec 2007, 11:51
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Ozmba2006
pelihu
Can you point out your source? I have not heard about any layoffs of recent hires at any of the big banks. I'm talking with pretty much all of them next week so I would like to confirm the information before asking about it.

Sent you a PM .....I don't want to make this info public
Show more


I am not sure why you would post if you were not willing to share the least bit of information? While I think you might have a valid source, a post like this will only scare people if they can't judge for themselves. The topic is very relevant and can be very useful to all the MBA aspirants here.
User avatar
Ozmba
User avatar
Joined: 14 Feb 2005
Last visit: 27 Aug 2013
Posts: 953
Own Kudos:
30
Location: New York
Posts: 953
Kudos: 30
Few MBA grads from Class of 2007 - Got fired 14 Dec 2007, 12:21
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Guys,

Source - From a friend ,graduate from a top bschool...he was working at a Wall street firm

I helped few of them get their H1B transferred to a IT services company .....so their stay can be legal...
avatar
aceman626
avatar
Joined: 12 Nov 2006
Last visit: 19 Apr 2010
Posts: 469
Own Kudos:
9
Posts: 469
Kudos: 9
Few MBA grads from Class of 2007 - Got fired 14 Dec 2007, 12:30
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Ozmba2006
Guys,

Source - From a friend ,graduate from a top bschool...he was working at a Wall street firm

I helped few of them get their H1B transferred to a IT services company .....so their stay can be legal...
Show more


you can actually do that? Don't you need to re-apply for H1B? You can just transfer it?
avatar
Columbia08
avatar
Joined: 14 Sep 2007
Last visit: 06 Aug 2008
Posts: 96
Own Kudos:
22
Posts: 96
Kudos: 22
Few MBA grads from Class of 2007 - Got fired 14 Dec 2007, 13:11
Kudos
Add Kudos
Bookmarks
Bookmark this Post
[quote="aceman626"][quote="Ozmba2006"]Guys,

Hey Ozmba can you pm me too, the news is super scary and I need to know more.
User avatar
toDoorNot
User avatar
Joined: 12 Aug 2007
Last visit: 08 Feb 2009
Posts: 324
Own Kudos:
6
Posts: 324
Kudos: 6
Few MBA grads from Class of 2007 - Got fired 14 Dec 2007, 17:58
Kudos
Add Kudos
Bookmarks
Bookmark this Post
Ozmba.. can u PM me the details too..definitely have to avoid tht company
 1   2