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Strategies & Market Trends : Asia Forum

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To: Thomas Haegin who wrote (1099)	1/19/1998 5:00:00 AM
From: Thomas Haegin	Read Replies (1) of 9980

Repost: More jobless in the region from Schroders --------------------------- via Infobeat of 01/15/98 (sorry, I'm late. T.) *** Schroders moves to slash jobs, sending HK stocks lower United Kingdom financial services giant Schroders PLC plans to eliminate more than 200 jobs in its Asian securities operations in the wake of the region's economic crisis. Concerns about the closure, combined with profit-taking and jitters about the financial health of major property developers, triggered a 7% tumble in the Hong Kong stock market on Thursday. Other major Asian markets were mixed. The Schroders news means another blow to investors who were still shaken by Monday's collapse of Peregrine Investments Holdings Ltd. Company officials said the staff reductions would total 220 positions throughout the region, and will be limited to the firm's securities division. Schroders' banking, asset management, corporate finance, project finance and capital markets divisions will remain intact, officials said. (WSJ)

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