Morgan Stanley is letting go of at least six managing directors, including some key China bankers, as part of broader job cuts in Asia where dealmaking has been stymied by growing China-U.S. tensions and tepid economic growth.

Clarence Kwok, who’s focused on mergers and acquisitions in China, Julia Xiao in corporate finance, and Tony Yin on the technology coverage team were among the managing directors let go, according to Bloomberg News, and some of the senior bankers being cut were promoted in the last two years.

Morgan Stanley started cutting 7 percent of its Asia-Pacific investment banking workforce this week, reported Bloomberg. The move is part of a plan to reduce about 3,000 jobs globally by the end of this quarter, which would amount to roughly 5 percent of staff excluding financial advisers and personnel supporting them within the wealth management division.