When I worked in the city, contracts typically specified bonuses only payable if staff 'in pot' at 31 December for example.
Lay-offs ALWAYS seemed to happen mid-December and caused bad feelings as it looked like it was just desperation to save a few $$.
In reality, I guess the last few market crashes, Black Thursday, Black Friday, Black Monday etc. (1988-1994) all occurred september/october same as the present crashes so probably coincidental.
|