|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    25th of February 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Banking News feed Banking News

All Financial News feed All Financial News




HSBC to reduce headcount by 10,000

Bookmark and Share

by Kay Mitchell
”HSBC

According to a report today, banking giant HSBC is to axe more than 10,000 jobs as part of the bank’s strategic review.

The report from Sky News said some of the cuts will come from its head office while others will be the result of closing some retail banking operations.

However, a spokesperson for the bank declined to comment on the report.

The speculation comes shortly after the bank said it would embark on a massive cost-cutting exercise.

The bank, which is Europe’s largest, is looking to save up to $3.5 billion (£2 billion) by streamlining its IT operations and cutting back on its wealth management and retail divisions.

HSBC, which operates in 87 markets and has a workforce of more than 287,000, is one of the few banks not to ask for help during the financial crisis.

Discuss this in the Finance Markets forums

Story link: HSBC to reduce headcount by 10,000



News posted: July 28, 2011

Financial Services:





Related financial stories to: HSBC to reduce headcount by 10,000:
Previous: «
Next: »

Visited 3060 times, 1 so far today

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.

Tags: , ,