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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Natixis to slash 85 percent jobs in Tokyo AFP - Sunday, December 28 PARIS (AFP) - - French investment bank Natixis, severely hit by the global banking crisis, is to slash jobs at its Tokyo branch from around 100 to 15, a bank spokeswoman said Saturday. But she denied that Natixis was planning to close down its Tokyo offices altogether as reported in the French economy daily La Tribune on Saturday. "We will not close our Tokyo operations but we explained on December 18 that we would end our activity in complex markets," she told AFP. "We will remain active on the shares markets in Japan, which requires a local presence." The bank plans to cut its staffing in Tokyo by 85 percent from around 100 to 15, "bearing in mind that some employees will be transferred to other offices." La Tribune quoted various sources as saying Natixis would close its Tokyo offices by May and that Hong Kong would take over responsibility for the group's activities in Japan. Natixis announced earlier this month that it stood to lose up to 450 million euros (605 million dollars) in "indirect exposure" to the scandal surrounding New York investment manager Bernard Madoff. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy Natixis to slash 85 percent jobs in TokyoAFP - Sunday, December 28 Car production could fall 35 percent in ThailandAP - Sunday, December 28 S.Korea's Lee says economy may shrink in H1 2009Reuters - Saturday, December 27 SKorea's economy may further slow down in 2009AP - Saturday, December 27 Related Articles: Business Turkish parliament cuts spendingAP - 55 minutes ago SNAPSHOT - Financial Crisis - 1955 GMTReuters - 1 hour 6 minutes ago Doors close at about 200 Woolworths in BritainAP - 1 hour 13 minutes ago Flights at Hong Kong airport disrupted by strike of ground staffAFP - 2 hours 53 minutes ago Ecuador president announces oil production cutsAP - 2 hours 54 minutes ago Enlarge Photo Natixis to slash 85 percent jobs in Tokyo Related Photos Slideshow Full Photo Coverage: Business & Economy Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Actress Jennifer Aniston appears naked in GQ magazine Stars of Hollywood, high-tech open wallets for Obama party Tough times seen ahead for British, Japanese economies Funeral of Guinea strongman as junta tightens grip Australian 'mummy smuggler' arrested in Cairo View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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