MUFG to Cut Brokerage Staff in Hong Kong, Singapore
- Reduction in sales and trading will also affect Sydney: people
- Japanese bank also cut staff in London earlier this year
The logo of Mitsubishi UFJ Financial Group outside of the company's headquarters in Tokyo.
Photographer: Tomohiro Ohsumi/BloombergThis article is for subscribers only.
Mitsubishi UFJ Financial Group Inc. is planning to cut about half of its 150-strong workforce at its securities business in Hong Kong, Singapore and Sydney, people with knowledge of the matter said.
Japan’s biggest bank will focus the reductions on sales and trading, the people said, asking not to be identified because the deliberations are private. A final decision may come as soon as Wednesday, they said.