People | Deals - Acquisition, Mergers, Divestitures | Job Cuts / Downsize / Layoff
Jefferies Cuts Energy Investment Banking Staff as Deal Activity Slows
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Jefferies Financial Group has announced layoffs in its banking team, according to a report by Reuters.
A total of 15 members of its energy investment banking team were cut.
The cuts come as a direct result of the lull in A&D activity in the oil and gas industry, which has been particularly sluggish in the sale of acreage and smaller property packages. Much of the deal activity can be attributed to larger corporate mergers.
The firm did not respond to requests for comment.
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