The mass lay-offs hitting the City have an unexpected casualty: pricey bikes abandoned in office car parks by fleeing bankers and traders.

Financial News has spoken to several City workers at large investment banks who say dozens of bikes, some worth as much as £10,000, are rusting at the bottom of skyscrapers in the Square Mile and Canary Wharf. In one case, the bikes were raided for parts by colleagues of the departed executives, said one banker.