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HSBC said to be slashing up to 10,000 more jobs: reports

Bloomberg
Bloomberg10/7/2019 08:20 AM GMT+08  • 2 min read
HSBC said to be slashing up to 10,000 more jobs: reports
(Oct 7): HSBC Holdings is embarking on a cost-cutting drive that threatens as many as 10,000 jobs, the Financial Times reported, citing two people briefed on the matter.
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(Oct 7): HSBC Holdings is embarking on a cost-cutting drive that threatens as many as 10,000 jobs, the Financial Times reported, citing two people briefed on the matter.

The bank, one of several European lenders eliminating roles, is questioning why it has so many people in Europe when it has double-digit returns in parts of Asia, one of the people told the paper.

The job cuts – on top of the 4,700 redundancies announced earlier – could be announced when HSBC reports its third-quarter results later this month, according to the FT.

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