Whole teams in its Asian offices have been slashed BY Nurhuda Syed 09 Jul 2019 Share Deutsche Bank began slashing 18,000 jobs worldwide yesterday (8 July). Whole teams in its Asian offices have been slashed, reported Reuters. The layoffs began in Sydney, then moved onto the rest of the region including Hong Kong and Singapore, before going on to Europe and US. The bank is scrapping two of its major operations, its global equities business and some roles in its fixed income division. Hong Kong has been DB’s equities hub for Asia. Singapore is the APAC hub for its fixed income business. The global restructuring will continue over the next three years. Most Read 2021: Here’s what your HR strategy should look like MCO 2.0: How can HR support employees? How to work with a manager who hates HR You've reached your limit - Register for free now for unlimited access To read the full story, just register for free now - GET STARTED HERE Already subscribed? Log in below LOGIN Remember me Forgot password? Related stories StarHub slashes 300 jobs in a week IBM Singapore's retrenched workers feeling 'short-changed'