GXBank said its Malaysian operations are not affected by the layoffs announced by its parent group.

The clarification follows news that GXS is laying off 82 employees, or about 10 percent of its total workforce, with the cuts taking place in Singapore and India after a group-wide review.

The bank said it is adequately staffed and has evolved organically into the structure needed for its current stage of growth.

GXBank said in a statement,

“The management takes a long term prudent view to ensure we have the right talent in place for the sustainable growth in Malaysia.”

The broader review conducted by GXS examined roles across Singapore, Malaysia and India to determine which functions remained essential as the organisation moves from its build phase into full operations.

While redundancies were identified in other markets, GXBank said the Malaysian team had already adjusted naturally over time, resulting in no roles being impacted.

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