“There is a possibility you will get laid off” are words that most people dread to hear. Recently there have been numerous announcements of job cuts towards bankers. The worldwide bank HSBC plans on removing 10% of its employees, which are around 3,000 people within the next 3 years.

A family member of mine currently works at HSBC in Hong Kong and she was left speechless when she heard the news. With a family to take care of, having a full time job is crucial. She is left with uncertainty of whether or not she is one of the chosen to be let go, and if she should start looking for a new job.

Due to the downfall of the stock prices, many banks have chosen the easiest and fastest way out, which is to eliminate staff. It is unethical for employees to pay the price of the economical breakdown when they are the ones keeping the bank running smoothly. It is definitely not a good time to be a banker.

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