Mitsubishi UFJ to Cut Jobs in Hong Kong, Singapore, Australia

Economy

Tokyo, Sept. 24 (Jiji Press)--Mitsubishi UFJ Financial Group Inc. <8306> is considering halving its workforce in its securities operations in Hong Kong, Singapore and Australia to some 90 shortly, informed sources said Tuesday.

The move by the Japanese banking group comes as stock markets are struggling globally amid trade tensions between the United States and China.

The group is "considering various measures to make it more competitive. But nothing has been decided," a public relations official said.

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