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European banks poised for more job cuts

Jan. 07, 2016 4:34 AM ETBNP Paribas SA (BNPQF) StockDB, BCS, BNPQY, BNPQF, BNPZYBy: Yoel Minkoff, SA News Editor
  • 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)

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