MUFG to Cut Around 60 Jobs in Hong Kong, Singapore and Sydney
- Said to eliminate around 60 jobs in region excluding Japan
- Others may leave if they turn down offers to relocate: person
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Mitsubishi UFJ Financial Group Inc. unveiled widespread job cuts at its Asia-Pacific securities business, as Japan’s biggest bank tackles growing pressures on profitability.
MUFG is cutting around 60 employees, or less than 40% of staff at its securities operation in Hong Kong, Singapore and Sydney, a person with knowledge of the matter said, asking not to be identified. Other employees may also leave if they turn down offers to relocate, the person added.