Maybank Kim Eng lays off 5% of its Singapore workforce
It says it 'cannot ignore' the global market forces that forced staff-strength review
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MAYBANK Kim Eng, the investment banking and securities broking arm of Malaysia's largest bank, has laid off 5 per cent of its Singapore workforce as stiffer competition prompts a restructuring of its Singapore retail brokerage operations.
The job cuts were announced last Friday in an internal memo seen by The Business Times, and are part of a broader review of staff strength that also affected Maybank KE's regional institutional sales and research, and Hong Kong investment banking and advisory businesses.
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