Investment banks brace for more job cuts

HONG KONG: Job cuts at Western investment banks in Asia are expected to increase this year as revenue pressures rise due to deepening economic and market turmoil in China, even as deal prospects brighten in Japan and India, headhunters and bankers say.

A new round of staff cuts that began in late 2023 on the Chinese mainland and Hong Kong, key regional investment banking hubs, will gather pace in the coming months, they added.