Staff at HSBC were delivered a sobering message about the frailties of working in high finance in March after the bank fired investment bankers on the day they were due to learn about their bonus figures.
The bankers were made redundant as part of new chief executive Georges Elhedery’s plans to streamline the company but the move also served as a stark reminder to employees across the financial services industry of the thin ice they sometimes tread when it comes to job security.
And the ice has been particularly thin of late. Alongside the redundancies at HSBC, Deutsche Bank said it would axe 2,000 more jobs this year, while Lloyds Banking Group announced plans to cut 500 jobs and close two offices.
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