Is the Aussie jobs market about to implode?

There's panic on the streets of Sydney. Just when you thought your Aussie job was safe and sound, it seems the suffering may be spreading to these shores. And this time the bad news isn't only about ANZ.

Recruiters say the AU$18.6bn merger plan between Westpac and St George could create a jobs cull - especially in areas such as operations - because the combined bank would slash duplicated roles.

Lehman also looks likely to lose staff in Australia, with the closure of its former flagship high income fund.

And has Macquarie lost its magic? The bank has reported full-year results that undershoot market forecasts, warning that challenging markets will make it difficult to boost earnings this financial year. Even its top execs are taking a pay cut.

Is now the right time to leave the likes of Lehman? Or should you quit the country completely to avoid the bloodbath down under? Plan your escape below.