Paranoia is rife in the wake of mass redundancies at investment banks and now it seems a lot of bankers think a trip to the Canary Islands could see their jobs flutter away.

Top executives in the UK are canning holiday plans because of escalating redundancy fears, according to research from the Chartered Management Institute (CMI) (Telegraph).

City workers are desperate to swap holiday for other benefits because they’re anxious that time away from the office could lead to a P45. Nearly 40% of workers want to carry over their holiday, while others are looking to swap annual leave for private healthcare.

“There is clearly a fear that out of sight means out of mind – but without a proper break individual performance can suffer,” says the CMI’s Jo Causon.

So will you be retiring to sunny climes for a well-earned rest? Or will you be burning the midnight oil this summer to show just how indispensable you are? Your thoughts please….