I have seen investment banks disable all logins for a whole division or trading floor, invite the people they aren’t firing to an all hands / town hall meeting to tell them as much, then announce to everyone else on the floor that they no longer have a job and will be escorted out of the building with any belongings they choose to collect within 30 minutes.
I’m not sure how normal it is, but it doesn’t objectively seem like there’s anything wrong with it.
Ooooh that is dark. Must have been fun for the smokers who have been around for a while. Having worked at a company that went through a few years of trouble, there were all sorts of little signals like that you'd learn to pick up on.
There's a scene in the movie "Margin Call" (about the 2007-2008 financial crisis) in which most of a floor of employees in an investment bank is laid off: https://www.youtube.com/watch?v=zn2Xf9hAFcE
I’m not sure how normal it is, but it doesn’t objectively seem like there’s anything wrong with it.