It’s nickel and dime time for banks

October 13, 2008

Belt-tightening measuresIt’s nickel and dime time for banks as they come under pressure to cut costs in order to survive the worst financial crisis in 80 years.

According to banking sources, a U.S. bank in Canary Wharf has banned colour printing and has asked employees in the back office to chip in 25 pounds each for the office Christmas party.

A bank in Mayfair has told its employees to only hail cabs on the street instead of booking on the phone. Another bank in the City has pushed back the time employees can take taxis home to 9.30pm from 8.30pm previously.

A senior banker from the collapsed bank Lehman Brothers, soon to be transferred to Japanese bank Nomura, ordered a glass of tap water at a meeting in a restaurant.

Know any more belt-tightening measures being implemented? Contributions welcome.

One comment

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does ones’ heart not bleed for these overpaid, incompetent, bankers……who got us into this mess in the first place..

Posted by rocky | Report as abusive