After closing its offices in Australia following a strategic review last month, CIMB has announced 15 job cuts in Singapore, in addition to the 50 jobs cut across the region last week.
When contacted by Human Resources, sources in CIMB confirmed the layoffs, adding that, “Malaysia has not been impacted by job cuts.”
“The other countries with job cuts are Hong Kong, Taiwan, South Korea and India.”
The Australian offices in Sydney and Melbourne that were shut down in early February this year affected about 103 Australian staff, who will be offered support such as redeployment opportunities and outplacement support.
The office shutdowns followed an announcement where CIMB stated it was looking to reduce its Asia Pacific investment banking and equities operating cost by 30% in 2015.