INVESTMENT BANKING | Staff Reporter, Singapore

Goldman Sachs to axe 90 investment bankers in Asia

Around 200 bankers will be left in the region.

Goldman Sachs will scale down its operations in Asia as it plans to cut 30% of its 300 investment banking jobs in the region.

According to an exclusive report by Reuters, the jobs cuts are most likely to take place in Hong Kong, Singapore and China.

This is the bank's response to a slowdown in activity in the region and a "challenging backdrop" for revenue.

In July, Goldman Sachs revealed cost-cutting plans that would save $700 million a year.

Read the full report here.

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