HSBC cuts a dozen Asia dealmakers, source says By Reuters

Source: Investing.com UK

HONG KONG (Reuters) - HSBC (LON:HSBA) 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.