BNP Paribas has become the latest global investment bank to scale back its China operations amid a slowdown in dealmaking, laying off nearly a dozen employees across the Chinese mainland and Hong Kong, sources told Caixin.
The French bank cut what is believed to be 11 positions in its investment banking, corporate finance and equity capital markets divisions. The layoffs included some senior managers within BNP Paribas' China investment banking team, according to people with knowledge of the matter.
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