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HK to shed 100 bank jobs this year

Hong Kong will see 100 bankers losing their jobs this year if the plans of two Chinese investment banks push through. According to the Sing Tao Daily, the two Chinese banks, which were not identified, plan to lay off about 30% of their Hong Kong staff this year. That would mean 100 people losing their jobs across investment banking, equity capital markets, and other departments. The report said the plan to lay off people comes as IPOs in Hong Kong tumbled last Month due to elevated market volatility and the war in Ukraine, among others.

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