This article addresses the ongoing need for counseling for the ups and downs of people employed and no longer employed on Wall Street...part of the procedure of the agreement is not being able to discuss the matter in public as they could lose any severance pay packages...and some folks feel they have lost some of their identity and is causing panic to set in as now one has to re-invent much of their entire life to continue...a process....and what is left is a lot of anger and fear....BD
Still, psychologists say, for those being laid off, whether or not they are comfortable expressing it, there is boiling anger, a sense of betrayal and loss that is bound to rise to the surface.
That appears to be true for the former investment banker at Bank of America who talked about being treated like cattle. He said he went numb when he was brought into a conference room with his manager and told he was being let go. He would get no bonus for 2007, either, typically 40 percent of his $120,000-a year salary, he said, and he was offered eight weeks of severance pay, which he accepted.
“I had no emotional response,” he said. Yet he is clearly angry now.He says he decided to stick to consulting because he no longer believes he can rely on bonuses or the guarantee of a long-term full-time job. With the layoffs, he said, the banks are “destroying their greatest assets. It’s an us-against-them mentality now.”
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