escalating-bank-layoffs-still-far-from-over

Escalating bank layoffs still far from over

The size and nature of the latest round of staff cuts suggests the banks believe the decline in business activity will last for some time.
While the scramble to raise capital by most major banks over the past few months has left no doubt about the seriousness of the financial crisis, the current wave of layoffs gives a clear indication that the banks expect it to last for some time yet. The percentages vary from bank to bank, but the cutbacks announced so far have all been significant as the firms position themselves for another slow quarter û at least.

That message comes across all the stronger since the layoffs are being made across all regions û squashing the long-held belief that Asia, being a region of comparatively higher growth, would be able to ride out the storm û and...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222