Investment Banks Brace for More Asia Job Cuts Amid China Woes

Investment banks in Asia are likely to make more job cuts due to revenue pressures and economic challenges in China. Lazard, Rothschild, and Bank of America have already announced layoffs. China's stock markets, geopolitical tensions, and a weaker recovery from the pandemic have contributed to the downturn. While some banks are optimistic about the future in Japan and India, the near-term fee income growth in the region is expected to remain challenging.