“With thousands of bankers facing redundancy, nannies are becoming a luxury they can no longer afford. Even those City high-rollers still in employment are tightening their belts and seeking cheaper childcare options, such as nurseries, nanny-shares or even leaning on grandparents, to withstand the next financial earthquake.
For more than a year, Katie worked as a live-in nanny for an American family in a large house off Sloane Square in Chelsea, West London. The mother was a hedge fund manager and her son, William, went to the local prep school. Katie got William dressed and off to school and spent the rest of the day doing chores and seeing friends before picking him up from school, giving him tea and putting him to bed. In the holidays they would fly to the US together to spend time in the family home on Long Island while William’s parents worked.
Katie was paid in cash and had no contract – until a month ago. After not being paid for a fortnight, she confronted her employer, to be told that the family had hit hard times, they were moving to a cheaper rental home and that she would have to go. Shocked, and still owed a fortnight’s wages, she fled home to Australia. “