HSBC profits tumble fuels fears of more job cuts

Pedro Gonçalves
HSBC profits tumble fuels fears of more job cuts

HSBC has warned it may be forced to axe even more jobs after three disappointing months in which profits fell almost a fifth. Interim chief executive Noel Quinn said HSBC is planning to restructure its business after stating that performance in parts of Europe and the US was "not acceptable". Quinn added that plans to improve these divisions were "no longer sufficient" and that it was "accelerating plans to remodel them". HSBC announced profits of $4.8bn (£3.7bn) for the third quarter...

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