Jefferies cuts energy bankers as M&A slowdown takes toll: sources
By Gary McWilliams and David French
HOUSTON/NEW YORK (Reuters) - Jefferies Financial Group has laid off 15 people in its energy investment banking team, as the bank reacts to a slowdown of mergers and acquisitions activity among oil and gas companies, sources familiar with the matter said on Friday.
The job cuts were concentrated within the group that focuses on sales of acreage and smaller assets, known in the industry as the Acquisitions and Divestitures (A&D) team, and were predominantly junior staff helping with technical roles, according to three of the sources.
Jefferies declined to comment. The sources all spoke on condition of ...