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Stress, anxiety and mental illness in the Financial Capital

October 7, 2008

A journalist called me a few weeks ago with a question – in the current downturn are more people working in the City going to be seeking psychotherapeutic help?

viaFears of the fallen high-fliers: mental illness may follow redundancy – The Observer

Not surprisingly, mental health professionals in and around the City are reporting – or expecting – a sharp pick-up in inquiries for their services. According to Stephen Garratt of London City Psychotherapy, ‘now that people are being laid off, I’m getting more calls. In this environment people feel “it’s not just me – there’s a much more stressful situation around”.’

The City focus on individual performance means it is a high-pressure environment at the best of times. In a recession the pressure piles on further. In an upturn, employees scheme to obtain extra resources and the biggest possible bonus. In a downturn, they desperately try to defend their empires and avoid the sack – for themselves or for valuable colleagues in their teams.

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