Bank of East Asia trims 180 staff from Hong Kong operations

The Bank of East Asia has revealed plans to lay off 180 Hong Kong staff following “a thorough review of its businesses and operations”.

The cull represents 3.8 per cent of BEA’s entire Hong Kong staff.

“In order to deploy resources more efficiently, East Asia Securities , a wholly-owned subsidiary of BEA, will close all of its 22 retail outlets in Hong Kong by 8th July 2016,” the bank said in a statement today.

The securities arm will continue to provide telephone and internet banking services to customers.

(SOUTH CHINA MORNING POST)