Friday, November 7, 2008

DBS cut 900 staffs in Singapore and Hong Kong! 6% work force

DBS Group, Southeast Asia's biggest bank, will cut 900 staff in Singapore and Hong Kong, or six percent of its workforce, by the end of this month to reduce costs, CEO Richard Stanley said.DBS today posted a 38 pct drop in quarterly profit, below expectations, aslosses from bad debts quadrupled.

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