Barclays, UK's second largest bank by assets, has announced cutting of 12 000 jobs - 7 000 of these in the UK alone. Cuts include 220 at managing director's level and 600 at director's. This downsizing applies to the bank's operations worldwide. It's a sizable and this cut further reminds us that we can't look to the banking sector for a secure, long term career any more.
On the brighter side, though there is no such thing as job security, there are always job opportunities. One must not be complacent. Retrenchment can happen to anyone, any time. So, be prepared for it and if one does that, the impact is more bearable. What, then, can one do? Re-skill oneself, acquire a higher academic qualification, network, lookout for better career opportunities and most importantly, get one's RESUME updated and ready at all times.
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