Job Market Monitor
HSBC
Job Cuts – HSBC to cut 35,000 jobs worldwide
Bank warns of ‘meaningful’ job losses in UK and of impact of coronavirus outbreak in Asia The bulk of HSBC’s profits come from Asia, which has been hit by the coronavirus outbreak. HSBC has said it will slash 35,000 jobs over three years as part of a major shake-up as it issued a warning over … Continue reading
HSBC – To cut 50,000 jobs
HSBC (HSBA.L) pledged a new era of higher dividends on Tuesday, laying out plans to slash nearly one in five jobs and shrink its investment bank by a third to combat sluggish growth across its sprawling empire. Chief Executive Stuart Gulliver has made it his mission to boost profits since taking the helm of Europe’s … Continue reading
HSBC / Up to 14,000 jobs to be cut
HSBC has said it may cut an additional 14,000 jobs globally as part of a restructuring plan to reduce costs and increase profitability. The bank is aiming to save another $3bn (£2bn) in annual costs as tougher regulations eat into profits. The layoffs would cut the firm’s total headcount to between 240,000 and 250,000 over … Continue reading
UK / HSBC bank cutting 3,166 jobs
HSBC is cutting 3,166 UK jobs as it continues efforts to reduce costs. The bank said the positions would mostly go from its wealth management division, but that it hoped to redeploy more than 2,000 of the affected staff. The cuts are part of HSBC’s continuing three-year cost-cutting plan, and follows the loss of 2,200 … Continue reading
HSBC | 2,000 UK layoffs
Banking giant HSBC is this week expected to announce some 2,000 UK job cuts as part of a restructuring of its global business. The axe is expected to fall on nearly 4% of the bank’s 52,000-strong UK workforce in a drive to slash costs and help the business react to the tougher climate in the … Continue reading
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