UK
I was informed recently my product control role is being deployed to Singapore & also that I have not been shortlisted for promotion; surely this is a sign for redundancy? I have only been working for the bank for just over year; any advice would be appreciated.
Anonymous
Question: What are the redundancy signs in Investment Banking?
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if your bank is on a verge of collapse is usually a pretty good sign
A black bin bag on your desk when you return from lunch.
Your security pass stops working.
IT department disconnecting your computer terminal from the network.
A A5 blue and white form with the letters P45 in the top-left hand corner.
A courier arriving at your house over the weekend with your compromise agreement to sign.
your ID card having your name written on it, next to a Lehman Brothers logo.
Unfortunately you don’t really know when or if you’r going to be made redundant. The management doesn’t send any sign because in this sector you deal with private and confidential data. It will always come by surprise in order to protect the business.
You’ve just bought a new flat and paid for a skiing holiday on your credit card
CEO with a fat package in his bonut , — You are nuts for me , you are fired.
Christmas party being cancelled.
Weird emails from CEO saying “We’ll get through this” etc
Not being put forward for promotion is not a definitive sign; when I think about my colleagues that were made redundant, there are no clear and cut signs at all. It can happen to mostly everyone, even if you were recently promoted. Don’t beat yourself about this, there is no much you can do. Think about possible options.
It looks to me that you work for Credit Suisse. I would go over to Singapore if offered the chance and then come back to London in 2 years time when things are better.
When your pass stops working in the morning as you try and get into the building.
Rumours always start to spead few days before. But then it ‘s already too late and MD or Senior Mgt (depending of the size of the bloodbath) have already made their choice.