HSBC forced to rethink 35,000 job cull amid pandemic

Pedro Gonçalves
clock • 1 min read

HSBC will be forced to delay a plan to slash 35,000 jobs in the midst of a coronavirus pandemic that has claimed nearly 10,000 lives. The FT reported that four people briefed on the matter were informed that should the contagion become a long-term crisis, the disruption would likely delay the overhaul.  "You can't fire a trader in Europe over the phone when he is either working from home or taking care of a sick family member," said a Reuters report citing an unnamed HSBC source. Quinn's decisive move to slash costs proved instrumental in securing him the top spot at Europe's large...

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