Deutsche layoffs: impact in Singapore seen as muted

Singapore

IMPACT at Deutsche Bank's Singapore operations will be more muted compared to other regional hubs such as Hong Kong, although the German lender declined to elaborate on the number of employees who will be affected here.

Following news of the troubled bank's overhaul on Sunday, Bloomberg reported on Monday that the bank had cut about half its equities staff in Asia and plans to reduce the group by another 25 per cent within a month.