- European banks are set to cut back equities trading and research teams in Asia, as global cost-cutting reaches a region where a drop in Chinese trading volumes and local competition have hit profits.
- Bankers and headhunters told Reuters that BNP Paribas (OTCQX:BNPQF), Deutsche Bank (NYSE:DB) and Barclays (NYSE:BCS) are among lenders likely to slash their workforce, setting the tone for a tough 2016.
- Ten of Europe's largest banks already announced 130K job cuts since last June.
- Previously: How many bank jobs vanished since the financial crisis? (Dec. 31 2015)