HSBC plans to cut 10,000 jobs

Further massive job cuts threaten the banking industry just as HSBC half year profits are due to be announced. Despite it’s position as Europe’s largest bank HSBC has felt the impact of a slow economic recovery and is looking to shed staff as costs rise and two third of its business fail to deliver. Globally HSBC employ over 300000 people.

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HSBC may cut more than 10000 jobs: report – Reuters