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Western banks reduce workforce in China, US Supreme Court rules Trump can't be prosecuted for 'official' actions, Amazon turns profit, online competitors affect Japan's regional banks
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- Western banks cut workforce in China due to losses and geopolitical tensions.
- US Supreme Court ruling grants broad immunity to Trump for official acts as president.
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Western Banks Cutting Workforces in China Due to Economic Factors
Western banks are reducing their workforce in China as a result of decreased profits and losses due to the slowdown in the property sector and geopolitical tensions with the US. The number of employees in China has dropped over 10% since 2022. Analysts suggest that promising opportunities in other parts of Asia are drawing banks away from the Chinese market.
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