• Rajasthan

    Cong 99
    BJP 73
    RLM 3
    OTH 24
  • Madhya Pradesh

    Cong 113
    BJP 110
    BSP 2
    OTH 5
  • Chhattisgarh

    Cong 68
    BJP 15
    JCC 7
    OTH 0
  • Telangana

    TRS-AIMIM 95
    TDP-Cong 21
    BJP 1
    OTH 2
  • Mizoram

    MNF 26
    Cong 5
    BJP 1
    OTH 8

* Total Tally Reflects Leads + Wins

Goldman Sachs cutting nearly 30 percent of Asia investment banking jobs: Sources

By: | Published: September 23, 2016 10:38 PM

Goldman Sachs is cutting almost 30 percent 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.

Goldman said in July it had embarked on a cost-cutting plan that would save 0 million a year in response to a "challenging backdrop" for revenue. (Reuters)Goldman said in July it had embarked on a cost-cutting plan that would save 0 million a year in response to a “challenging backdrop” for revenue. (Reuters)

Goldman Sachs is cutting almost 30 percent 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.

Most of the jobs cuts are likely to take place in Hong Kong, Singapore and China, where Goldman’s main Asian offices are located, they added.
A Goldman Sachs spokesman declined to comment.

The total value of M&A deals across the Asia-Pacific region has dropped to $572.9 billion so far this year, from $745.7 billion in the same period of 2015, according to Thomson Reuters data.

Goldman said in July it had embarked on a cost-cutting plan that would save $700 million a year in response to a “challenging backdrop” for revenue.

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