MF Global to its employees: Goodbye, MFs

[marmar]

(Bloomberg) MF Global Inc.’s workforce of 1,066 broker-dealer employees was fired as the failed brokerage closes its New York office and liquidates in an attempt to return assets to customers under the guidance of a trustee.

The broker-dealer, winding down since Oct. 31, will pay employees through Nov. 15, according to a statement today from the office of the trustee, James Giddens. As many as 200 former employees are being hired to assist in the liquidation of the broker-dealer, Giddens said.

Some employees of MF Global Inc., the broker-dealer unit of bankrupt MF Global Holdings Ltd., learned they were being fired from news reports, a person familiar with the matter said. The press release was distributed to and reported by the news media before all MF Global employees who were losing their jobs were notified, according to the person, who declined to be identified because they aren’t authorized to speak publicly on the firings

“We were well into the process of notifying employees and were attempting to personally reach as many employees as possible when the release went out,” said Kent Jarrell, a spokesman for Giddens. ............(more)

The complete piece is at: http://www.bloomberg.com/news/2011-11-11/mf-global-s-1-066-brokerage-employees-fired-amid-bankruptcy-trustee-says.html

[MrNJ]

1. LOL @ the title.

On a more serious note, can't wait for Corslime to go to jail for this.

[FarCenter]

2. Given the alleged state of their accounting, I doubt that Corzine had time to screw up this much

I'd think that they should also look at http://www.marketswiki.com/mwiki/Bernard_W._Dan and http://www.marketswiki.com/mwiki/Kevin_R._Davis the two previous CEOs as well.

Who knows what went on while the company was a Bermuda corporation until 2009.

[Initech]

3. How much did the executives make, I wonder?

[SoCalDem]

4. Live by the sword....

Apt naming:)