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HSBC is reportedly expanding its investment banking job cuts in Asia, with plans to eliminate an additional 20 positions, Reuters reported on Wednesday, citing sources familiar with the matter.
The Asia-focused bank initiated the job cuts on Tuesday, notifying roughly a dozen bankers, bringing the total number of layoffs this week to around 30. The move comes amidst a slump in deal making activity across the region.
HSBC has not yet responded to a request for comment from Reuters.
