Dresdner’s unseasonal redundancies could have long-term repercussions.
Investment banking is a tough business. So few tears will be shed for any banker that is made redundant – even if it is just before Christmas.
But both employers and employees make an unwritten pact on performance, contribution and pay. So being fired just ahead of expected bonuses during a record earnings year for the industry as a whole must be a bitter pill to swallow for those recently let go from Dresdner Kleinwort.
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