Mass lay-offs come to Asia: DBS cuts 900 jobs

Mass lay-offs come to Asia: DBS cuts 900 jobs

DBS is slashing 900 staff - mainly in Singapore and Hong Kong - as Q3 net profit slumps by 38%. It's the biggest sign yet that Asian banks…

The terrible truth about the coming global redundancies

The terrible truth about the coming global redundancies

It's becoming harder to find a bank that hasn't already laid off at least 10% of its staff. But with revenues still catastrophically low, headcount reductions to date…

Time for Goldman to claw back ICBC bonuses?

Time for Goldman to claw back ICBC bonuses?

In another sign of the changed times, Goldman's formerly lucrative investment in the Industrial and Commercial Bank of China has turned sour. This time last year, the ICBC…

Should China be scared of securitisation?

Should China be scared of securitisation?

Will the global financial crisis discourage regulators in mainland China from liberalising the asset-backed securities market? Fitch Ratings says yes. The ratings agency reckons Chinese policymakers are be

Bad omen for Nomura bankers

Bad omen for Nomura bankers

First they had to tolerate the arrival of 2,500 Lehman bankers on inflated guarantees. Now Nomura's existing staff are being asked to take orders from their uninvited guests.…

Hiring boom over in private banking

Hiring boom over in private banking

Private banking in Hong Kong and Singapore isn't the jobs factory it once was. Uncertainty has crept into the industry, and the question now is whether headcount can…

Is contracting becoming more acceptable in Asia?

Is contracting becoming more acceptable in Asia?

Financial institutions and candidates in Singapore and Hong Kong are gradually falling more in love with contracting jobs. Employer cost-cutting caused by the financial crisis is combining with…

Would you take a pay cut to save your bank?

Would you take a pay cut to save your bank?

What's worse for your career (and your ego) - being thrown on the redundancy scrapheap, or having your salary slashed by a quarter? That was the dilemma faced…

Asian stockmarket rollercoaster: when will it end?

Asian stockmarket rollercoaster: when will it end?

Largest loss in 10 years.... Wall Street's woes trigger panic in Asia.... Singapore stocks rally.... just another normal set of headlines about stock markets in Asia. Will we…

Who will Merrill lynch next?

Who will Merrill lynch next?

Merrill Lynch has been sharpening its axe in Asia-Pacific for several weeks - now it's finally ready to do some serious chopping. Its structured finance and structured credit…

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