HONG KONG (MarketWatch) -- HSBC Holdings has laid off about 100 employees from its private-banking division in Hong Kong, sparking fears of a new wave of job cuts in the city's financial sector, according to local media reports Wednesday.
The job cuts by HSBC (
HBC 34.26, +0.81, +2.4%) constitute about 8% of its 1,200 staff at the unit, according to the reports.
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