City jobs warning - The rest of 2016 looks like a washout

Storm clouds

A perfect storm.

The Financial Times reports that the City’s hiring market is in for a prolonged slowdown as uncertainty triggered by the Brexit vote compounds already difficult conditions for financial services.

'It’s been a tough hiring environment anyway and it just got tougher', says Dee Symons, a managing director at executive search group Russell Reynolds. 'We’re in June so the next two months over the summer would typically be quiet for City hiring, Brexit or no Brexit'.

Ms Symons says that 'right now (executives) are mainly hunkering down and getting on with their day jobs rather than hiring'.

'The City is entirely about confidence and confidence has clearly been dented', says Philip Marsden, founder of Ridgeway Partners. 'The City recruitment market was already significantly in decline in the past 12 months and Brexit is likely to compound this slowdown'.

One recruiter told HITC: 'This is the perfect storm - job losses, summer holidays and now Brexit. The rest of 2016 looks like a washout for many City recruiters'.

Hit the link below to access the complete Financial Times article:

City jobs market faces prolonged slowdown after Brexit vote

Société Générale declares commitment to UK after Brexit vote

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts