Samsung Securities yesterday confirmed that it is significantly reducing its presence in Hong Kong and will shift the focus of its international business towards Korean equities. The number of employees in Hong Kong will be cut by more than half from about 100 at present, it said. (Finance Asia)

More people were employed in Singapore last year, compared with 2010, with the bulk of new hires occurring in the services sector. But recruitment experts said that employment growth would slow this year, while the labour market remains tight. (Asia One)

Westpac is cutting hundreds of jobs as part of its cost cutting program, with Sydney facing the brunt of the redundancies. The Australian Finance Sector Union has confirmed that 560 jobs are set to go at Westpac, in the latest round of job cuts to hit the financial services sector this year. (Sydney Morning Herald)