Eastspring lays off staff after 'challenging' 2018

Singapore-based Eastspring Investments is laying off staff after a "challenging" 2018 as the asset management firms in the region face rising costs and lower fee revenue. Eastspring "is making some reductions in workforce numbers to reflect our changing requirements", a spokesperson told Asia Asset Management. "The reductions are in line with what is needed by the business at this time." The decision to cut staff at the Asian investment management arm of UK insurer Prudential plc not one that was "taken lightly", the spokesperson added. "However, a staffing adjustment is necessary at ...