Australia's Macquarie Group set to 'cut jobs in Asia', reports say

  • The Macquarie Group is set to cut around half of its jobs linked to investment banking in Asia, reports say.

    The Australian firm may cut up to 100 jobs in its offices in countries such as Singapore, South Korea and India, media reports said.

    The move comes as the investment bank aims to shift its focus towards revenue sources such as fund management and lending that are considered to be more stable.

    Fewer deals in a sluggish global economy have affected the company.

    Tagged as: Macquarie Group, job cuts, investment banking, Asia, Australian firm, Singapore, South Korea, India, business news