US
There’s panic on the streets of Sydney. Just when you thought your Aussie job was safe and sound, it seems the suffering may be spreading to these shores. And this time the bad news isn’t only about ANZ.
Recruiters say the AU$18.6bn merger plan between Westpac and St George could create a jobs cull – especially in areas such as operations – because the combined bank would slash duplicated roles.
Lehman also looks likely to lose staff in Australia, with the closure of its former flagship high income fund.
And has Macquarie lost its magic? The bank has reported full-year results that undershoot market forecasts, warning that challenging markets will make it difficult to boost earnings this financial year. Even its top execs are taking a pay cut.
Is now the right time to leave the likes of Lehman? Or should you quit the country completely to avoid the bloodbath down under? Plan your escape below.
What’s the point in leaving Sydney when Wall Street is even worse and HK only wants HK experience. Might as well sit here and suck grass for a few years instead of putting it about where you’re not wanted.
Macquarie is about to come undone.
Consolidation is a natural and postive part of any industry – get used to it!!
The combined bank will only be stronger, and in the long-term more top-level jobs will result. only the bank tellers will lose out
Put Macquarie’s so-called troubles into perspective…line it up against UBS
It is but natural for any merger or acquisition. Jobs will be culled, positions will be rationalised ans synergies will be factored in. During these times the best strategy is to be be flexible and mobile. Sometimes during mergers & acquisitions new job functions are created. A prudent person would look for such opportunities and encash on them.
who cares, they’re all complete Bankers any way.. !