Redundancy watch

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First there was Dresdner Kleinwort, then Citigroup. Now Bridgewell and Reuters may be about to dump staff.

According to a report in The Times last week, Bridgewell is the latest financial services firm gearing up to make job cuts. The paper reported that the UK bank plans to take the axe to IT, administration and back-office roles, following its purchase by Icelandic firm Landsbanki. Senior staff have reportedly been locked in with retention bonuses, however.

There are also reported to be a few sweaty palms at Reuters, where finance-focused journalists are said to be predictably nervous at the prospect of the company being acquired by rival Thomson.

If you're going to lose your job, it may be a question of better sooner than later, however. "It's better to get made redundant at the front of the redundancy cycle than the back of it," says Michael Moran, chief exec of talent and outplacement company Fairplace. "Right now there are still plenty of jobs out there for good people."

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