Browse Tag

job cutting

HSBC plans to slash 35 000 jobs worldwide

2 mins read

The FINANCIAL — HSBC announced it will cut 35,000 jobs over three years as part of a major shake-up after revealing that annual profits plunged 33%. The strategy overhaul comes as economic growth is slowing in HSBC’s major markets.  The London-based bank said it aimed to cut annual costs as it attempts its most drastic overhaul since the financial crisis in a bid to kick-start its stuttering business. HSBC also said it would shrink its sales and trading and equity research operations in Europe and move its structured products division from London to Asia. In the US, where the bank has…

Read More »

HSBC plans to slash 35 000 jobs worldwide

2 mins read

The FINANCIAL — HSBC announced it will cut 35,000 jobs over three years as part of a major shake-up after revealing that annual profits plunged 33%. The strategy overhaul comes as economic growth is slowing in HSBC’s major markets.  The London-based bank said it aimed to cut annual costs as it attempts its most drastic overhaul…