LONDON — Goldman Sachs is cutting almost 30% of its 300 investment banking jobs in Asia outside Japan in response to a slowdown in activity in the region, two sources familiar with the matter told Reuters.The Wall Street bank is reducing the number of bankers working on mergers and acquisitions (M&As), and equity and debt capital markets deals, the sources said. It will be left with slightly more than 200 bankers across Asia.Most of the jobs cuts are likely to take place in Hong Kong, Singapore and China, where Goldman’s main Asian offices are located, according to the sources, who said the process was under way.A Goldman Sachs spokesman declined to comment.The company, whose investment banking revenue fell 11% to $1.79bn in the second quarter, has been hit by a lacklustre environment for deals across Asia.The total value of M&A deals across the Asia-Pacific region has dropped to $572.9bn so far this year, from $745.7bn in the same period of 2015, according to Thomson Reuters data.G...
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