HKEx Staff Reduction

In response to today's (Friday) media enquiries about staff reduction at Hong Kong Exchanges and Clearing Limited (HKEx), HKEx issued the following statement:

As a continuing effort to enhance the competitiveness of the corporation, the operation of the HKEx Group will be streamlined and employment of nine senior executives and five secretaries will be terminated. Other excessive staff arising from the streamlining exercise will be redeployed to fill the comparable vacancies in other Units. The streamlining is consistent with the overall cost control policy of the corporation. The termination compensation offered is in full compliance with the statutory severance requirements. HKEx will continue to review its operation to strengthen its competitiveness.