Goldman Sachs Group (GS.N) is cutting more than 30 banking jobs in Asia, two sources with knowledge of the matter said, as a challenging markets environment weighs on Wall Street banks’ dealmaking and trading revenues.
The reduction in regional jobs, most of which are in the global banking & markets division, started on Wednesday, said the sources.
China-focused bankers were hit hardest, with nine equities capital markets bankers who are based in Beijing and Hong Kong being laid off, including a managing director, according to another two sources.
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