Allo allo,So, I've been offered a job in another bank and my current bank is laying off people. I don't know if my current team is going to be given the heeave-ho as part of the process. Soooo, should i put on the goggles, snorkel and rubber duckie swimming ring and jump ship before it's too late? Keen to hear some thoughts on this.

The obvious answer is yes, but if you have a good HH he will be telling you that you must have a formal offer and a contract before opening the hatch.That is the way of things at the moment.Although cuts are on average a bad thing, they can be good for the survivors in that if your competitors for a more senior post fall, or someone in your way is removed, this can be good.That of course depends upon whether your sort of job/career is based upon seniority and climbing up.Also, I have encountered people who as "the last man standing" found themselves in positions where their business unit was critically dependant upon them, which given a hard nose can work out well.This of course is less of an issue if the firm has made a strategic decision to stop doing what you do, and the survivors are merely caretakers to let things down gracefully, though some of the highest pay I have seen for mid level people has been incentives to make sure they only leave once the ship has been delivered to the scrapyard.

abandon ship then!! Last one in the water is a smelly underwear!

QuoteOriginally posted by: DCFCThe obvious answer is yes, but if you have a good HH he will be telling you that you must have a formal offer and a contract before opening the hatch.That is the way of things at the moment.Although cuts are on average a bad thing, they can be good for the survivors in that if your competitors for a more senior post fall, or someone in your way is removed, this can be good.That of course depends upon whether your sort of job/career is based upon seniority and climbing up.Also, I have encountered people who as "the last man standing" found themselves in positions where their business unit was critically dependant upon them, which given a hard nose can work out well.This of course is less of an issue if the firm has made a strategic decision to stop doing what you do, and the survivors are merely caretakers to let things down gracefully, though some of the highest pay I have seen for mid level people has been incentives to make sure they only leave once the ship has been delivered to the scrapyard.DCFCThis seems to be the situation I am in at the moment. Being a caretaker... quant/trader/strategist at the same time is very odd situation for me. Just to look after investment/trading book. It makes me wonder what I will be doing next.