The spectre of redundancy has made a seasonal reappearance. And for those culled at Dresdner Kleinwort, the clammy sensation could prove hard to shake.

“If you lose your job in this market, it’s going to be hard to walk into a new one,” says a headhunter at one international firm. “If anything, the stigma of being made redundant is more – most of the top US banks will shy away from someone who’s lost their job when markets are so busy. It’s going to be a question of down-trading to a lesser brand.”

Financial News says Dresdner Kleinwort has launched a festive culling programme, in which it will make 125 people in London redundant as part of a programme of cuts. Separately, Reuters reports that around 3,900 jobs will be shed in the next three years at Bank of New York and Mellon Financial, should their proposed merger go ahead.

Custodians at Mellon and Bank of New York may prove better placed to glide into new niches. “With the market as it is, if people were to lose their jobs, they shouldn’t have a problem finding a new one,” says Claire Maslen, a senior consultant at recruitment agency Joslin Rowe.

Plan ahead, and party

With everyone around them quaffing Krug to celebrate bonuses, Dresdner’s bankers may find the bad news particularly hard to stomach. “It’s a very difficult time of year for this to happen,” warns Philip Beddows at talent management consultancy IDDAS. “There are lots of swirling emotions, plus it can be hard to pin people down.”

If you have lost your job, Beddows suggests taking some time out and doing some initial planning, while postponing your job search in earnest until early February when the City’s back on its feet after Christmas. In the meantime, he advises making the most of the networking opportunities offered by Christmas parties.

The headhunter has some slightly different advice: “You’ve just got to get your CV out there,” he tells us.