News for hackers. Stuff that matters.

A comment on Scotiabank to Lay Off 3% of Workforce, Take $432M Charge – BNN Bloomberg. Parent comment

Re:Scotiabank to Lay Off 3% of Workforce, Take $432M Charge ... by alephnerd on Wednesday October 18, 2023 @11:51PM (#37938152)
It's because of the Chinese economy. They had to do a significant writedown because they were overexposed to Bank of Xi'an, whose share price has collapsed 75% from their peak, around which time ScotiaBank began overhiring.
[ Parent | on HN ]

There are no comments on this comment yet.