Financial crisis: Job losses hit Asia

Veröffentlicht: 8 Dezember 2008
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Last week, both Credit Suisse and Citigroup unveiled plans to cut a great number of jobs worldwide. Several hundred Credit Suisse employees are expected to lose their jobs in financial centres such as Hong Kong and Singapore. Citigroup's job cuts will result in thousands of redundancies in the region.



More job cuts are expected in Asia as global investment banks announce plans to downsize or close specific units, in particular real estate teams.



Asian financial companies are also announcing redundancies. DBS, Singapore's largest bank, is cutting 900 jobs, mainly in Singapore and Hong Kong.