Hong Kong bankers suffer sharp cuts in pay, bonuses as pandemic-driven downturn weighs on outlook, headhunters say

Bankers and other financial services workers in Hong Kong are taking pay cuts of as much as 20 per cent and seeing even sharper hits to their annual bonuses as the city navigates a historic economic downturn spawned by months of anti-government street protests and the coronavirus pandemic, according to headhunters.The pay cuts come amid rising concerns about Hong Kong’s future as an international financial centre and as global lenders slash expenses and slow hiring to navigate a downturn that…

Read the original article at South China Morning Post