This week, the UK’s Office for National Statistics (ONS) reported that redundancies rose to 370,000 in the three months to October, the most since records began in 1992.
The strain on the domestic economy caused by the worsening pandemic is forcing swathes of businesses in all sectors to cut staff.
It has been a banner year for markets and for investment banking, but as bosses at domestic and international banks sign off on budgets for 2021 – which also brings the reality of Brexit – some will be thinking of redundancies.
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