Hamilton, Bermuda-based Lazard, an iconic investment bank and financial advisory consultancy with its U.S. headquarters located in New York City, New York, is continuing its reorganization efforts based upon its continuing review.
In announcing the company’s third-quarter results, the company noted that “We conducted a review of our business, which resulted in a realignment that included employee reductions and the closing of subscale offices and investment strategies, most of which were completed during the third quarter of 2019. The employee reductions involve approximately 200 people across financial advisory, asset management and corporate functions. We believe these actions better align the business with changes in the marketplace and create greater flexibility to focus on strategic growth opportunities.”
Ken Jacobs, Lazard CEO, noted “There have been some changes in the macro environment globally, which leads us to believe there’s a better use of resources in other parts of the firm. It’s more matching costs with revenue where the opportunity exists.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?