A college graduate was left in despair after a $150,000 job offer was rescinded before he even finished his first day of work.
Harry* told news.com.au he received the call last week in which Australian trading firm Tibra Capital withdrew the offer.
The call was an added blow because he had withdrawn from other promising recruiting opportunities when the job offer came up earlier this year.
“I had other job interviews going on,” Harry said.
‘Some were very promising, so I had to withdraw.
“The timing is terrible, it’s Christmas, no one is hiring.”
The phone call from Tibra’s HR department informing him that the job offer had been withdrawn turned his world upside down.
The graduate was told that Tibra Capital needed to ‘restructure for the long term’ to explain the change of heart.
A graduate saw his $150,000 job offer go up in smoke just weeks before starting work (stock photo)
Tibra is said to have told a dozen graduates that they would start next year, but they are all now unemployed.
Some were international residents who had also lost their visas to work in Australia.
Although they never started work, Tibra agreed to pay four weeks’ notice.
It is understood that the company has also offered positions to interns and some senior positions.
Tibra Capital was founded in 2007 by seven young founders who made huge amounts of money.
The firm, which trades derivatives, foreign exchange, commodities and securities, has offices in Sydney, Wollongong and London, where it spends about $31 million on staff.
Recently, the company has struggled to repeat its early success, posting a whopping $79 million in net profit in 2016.
Last fiscal year, the company suffered a loss of $9 million, which was an improvement on the $42 million loss incurred the year before.
*Name changed