Nearly 90,000 financial jobs cut since Sept

Reuters
Posted: Tuesday, Nov 18, 2008 at 1227 hrs IST
Updated: Tuesday, Nov 18, 2008 at 1227 hrs IST

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Singapore, November 18:: Banking giant HSBC will lay off 500 staff in Asia, a spokesman said on Tuesday, the latest in a wave of cuts that has seen nearly 90,000 financial jobs axed since September.

This will be HSBC's second round of layoffs in the region in less than two months, as the fallout from the global credit crisis continues to ripple through the financial sector.

Here is a tally of major job cuts announced since September:

COMPANY - NUMBERS - DATE

1. Commerzbank: 9,000 - Sept 1

2. GMAC LLC: 5,000 - Sept 3

3. HSBC: 1,100 - Sept 26

4. UBS: 2,000 - Oct 3

5. Barclays PLC: 3,000 - Oct 10

6. National City Corp: 4,000 - Oct 21

7. Goldman Sachs Group Inc: 3,300 - Oct 23

8. American Express Co: 7,000 - Oct 30

9. DBS Group: 900 - Nov 7

10. Fidelity Investments: 1,700 - Nov 14

11. Citigroup Inc: 52,000 - Nov 17

12. HSBC: 500 - Nov 18

TOTAL: 89,500

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