Posted on 09/23/2016 6:47:43 PM PDT by ameribbean expat
Goldman Sachs is cutting almost 30 per cent of its 300 investment banking jobs in Asia outside Japan in response to a slowdown in activity in the region, two sources familiar with the matter told Reuters.
The Wall Street bank is reducing the number of bankers working on mergers and acquisitions (M&A), and equity and debt capital markets deals, the sources said. It will be left with slightly more than 200 bankers across Asia.
Most of the jobs cuts are likely to take place in Hong Kong, Singapore and China, where Goldman’s main Asian offices are located, according to the sources, who said the process was underway.
(Excerpt) Read more at scmp.com ...
Talk about a leading indicator of trouble ahead. We have some serious financial times ahead. Buy gold and lead.
There are other signs too. Oil is NOT recovering and is not going to recover for a long time. Oh wow...hide and watch, wait and see.
Good for consumers...bad for investors
This is just the start
Ping
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