“Time To Act:” Lazard To Cut 10% Of Jobs Amid M&A Slowdown

Investment bank Lazard Ltd on Friday announced plans to shrink its workforce by 10% this year, following a decline in dealmaking activity in the first quarter. “Candidly, things are not feeling as good as they were in December or January,” Chief Executive Officer Ken Jacobs told Bloomberg. He stressed, “It’s time to act. That’s basically it.” The first quarter […] Source