Overview

• HSBC is set to cut 20 additional investment banking jobs in Asia, bringing the weekly total to about 30.
• Morgan Stanley plans to eliminate around 50 investment banking positions in Asia-Pacific, with the majority in Hong Kong and China.
• The job cuts by Morgan Stanley represent about 13% of its investment banking workforce in the region.
• Economic factors such as a prolonged property crisis and a decline in deal-making activities are driving the layoffs.
• These layoffs are part of a broader trend of cost-cutting by global financial firms in response to deteriorating economic conditions.