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JPMorgan cuts at least six investment banking jobs in Hong Kong, sources say
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JPMorgan cuts at least six investment banking jobs in Hong Kong, sources say
May 7, 2024 3:08 AM

HONG KONG, May 7 (Reuters) - JPMorgan Chase & Co has become the latest Wall Street firm to reduce its

workforce in Hong Kong, two sources with knowledge of the matter

said, amid a weaker market and dealmaking activities.

The U.S. bank laid off at least six bankers in Hong Kong

this week, the sources said, who declined to be named as they

are not authorised to speak to media.

The job cuts were first reported by Bloomberg on Tuesday.

JPMorgan declined to comment.

Reuters reported in April that Morgan Stanley ( MS ) and HSBC ( HSBC ) were

cutting dozens of investment banking jobs in the Asia Pacific

region, as banks started to tighten costs amid sluggish markets

and slower dealmaking.

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