Asia Bank Jobs Tough for Expats

Since last year, there was a total of 160,000 job cuts in many major global banks around the world. Most of which are in European countries. The job cuts have been going on for months, longer than anyone has expected. Having said that, the European banks solution is to relocate in Asia where everything is relatively cheaper. But the truth is, the South East Asian state is not doing so well too. Singapore fell by 5 percent last year and it is becoming tougher to find jobs. Adam Faulkner, Manager of a recruitment firm in Singapore said: “If someone was at a bank in London and they’d been posted to Singapore for two years, earlier they may be able to ask to stay for another year or two. But now they’re saying you need to go back or you’ll be made redundant, there’s no job for you here,”  People should be aware of this before making a decision to move their lives half way around the world.