HONG KONG (Bloomberg) -- Hong Kong’s slide into a recession is costing jobs in the city’s leisure and consumer industries, including the staff at the Hard Rock Cafe, which will close this month, the South China Morning Post said.

Hong Kong’s economy entered its first recession since the outbreak of a deadly epidemic in 2003 as the global financial crisis eroded demand for exports and spending cooled. The government trimmed its full-year growth forecast on Friday as it reported a seasonally adjusted 0.5 percent slide in gross domestic product in the third quarter.
Hard Rock Cafe will close its theme restaurant in the Tsim Sha Tsui shopping district and lay off about 60 people as the lease on the premises expires on Nov. 24, the Hong Kong-based, English-language newspaper reported. Hard Rock will look for a favorable opportunity to reopen while proceeding with plans for two new restaurants in the city next year, the paper said, citing the company.
Luxury retailer Lane Crawford fired more than 10 percent of its Hong Kong employees, the paper also said, without disclosing where it got the information. The company declined to comment, the Post said.
Hong Kong broadcaster Asia Television Ltd. sacked 47 staff from departments including production and news, after 16 firings last week, according to the report.
ATV has been hurt by advertising cutbacks for consumer products, the paper said, citing Kwong Hoi-ying, senior vice- president of corporate development and external affairs.