Restructures, right-sizings and reviews - it's all happening at the moment. But how safe are you at your firm ?
Much, of course, depends on what job you are doing - Compliance probably looks like a safer bet than bond sales at the moment. Then you're more vulnerable if you're working in a non-core area which is struggling to eke out a profit, or in a business that requires the use of a large amount of your firm's capital.
And then, you're clearly more at risk of losing your job in a firm that is currently restructuring, rather than working for an organisation that has largely been through the pain of review and right-sizing.
So, here's a list:
Group 1 - Keep your head down
Barclays has been reviewing its activities across the board for some time now, but the reshaping of the investment bank is likely to begin in earnest with the impending appointment of a new CEO.
New CEO Tidjane Thiam unveiled his restructuring plans Wednesday, with up to 5,500 jobs likely to be lost Group-wide. Cuts will be made in the investment bank, and in the Zurich home market.
The bank is thought to be mulling over axing around 8,000 jobs globally, having announced a radical restructure plan on Sunday, which will result in senior departures and key investment banking units being merged.
RBS is shrinking the investment bank, exiting 25 countries around the world, cutting jobs and assets as he attempts to overturn seven straight annual losses. The bank has said there will be 'significant' job losses as part of the changes, without specifying how many positions will be lost.
The results of a major review of the bank's activities are expected in early December. The investment bank is thought likely to be scaled back, as the Group reins in its coverage.
Group 2 - Cutting around the edges
These are the firms that are managing costs carefully, but don't appear to have largescale plans for lay-offs, especially in wholesale banking:
Bank of America
Group 3 - you'd have to be unlucky
These are the firms that, by-and-large, have gone through most of the pain and, if anything, are strategically increasing headcount: