Asset Management

Fidelity International job cuts set to hit China staff

Reports suggest region will be the latest to see fund houses scale back

Tuesday 19 March 2024 at 07:33

Fidelity International job cuts set to hit China staff
Photo: Getty Images

A downturn in Chinese markets is piling even more pressure on asset managers, with Fidelity International the latest set to cut jobs in the region, Reuters reports.

The fund house is due to axe 16% of roles in its China fund unit, or some 20 people, according to the news agency, which cited individuals familiar with the situation.