HSBC plans to cut another 20 jobs in Asia

BanksFeaturedInternational News
By Nada Ali
HSBC
The HSBC UK headquarters are seen at the Canary Wharf financial district of London on July 31, 2018. (Photo Credit: AFP and Tolga Akmen / Tolga Akmen)

HSBC is reportedly expanding its investment banking job cuts in Asia, with plans to eliminate an additional 20 positions, Reuters reported on Wednesday, citing sources familiar with the matter.

The Asia-focused bank initiated the job cuts on Tuesday, notifying roughly a dozen bankers, bringing the total number of layoffs this week to around 30. The move comes amidst a slump in deal making activity across the region.

HSBC has not yet responded to a request for comment from Reuters.

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