HONG KONG (Reuters) – HSBC is laying off around a dozen of its Asia investment banking staff, a person with knowledge of the matter told Reuters on Tuesday.
Bankers in Hong Kong and Singapore are impacted as the lender cuts costs due to slowing dealmaking activity, the person and a second source said.
“The size of our work force will fluctuate in any given year,” a spokesperson for HSBC said in a statement, without commenting on the number of jobs impacted.
(Reporting by Scott Murdoch in Sydney, Kane Wu and Selena Li in Hong Kong, Editing by Louise Heavens)
