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Date: 06/01/09 
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Hong Kong - Top executive warns of more layoffs in finance sector

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More layoffs are likely because the economy is showing signs of slowing, Financial Secretary John Tsang Chun-wah issued the warning after HSBC Holdings announced it was cutting 1,100 jobs worldwide - including 100 in Hong Kong, in the wake of the global financial chaos. The banking group's executive director for Hong Kong and China, Peter Wong Tung-shun, also said he expected layoffs to continue to come in the financial sector.
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