HSBC to press ahead with 35,000 job cuts

HSBC to press ahead with 35,000 job cuts

HSBC, Europe's largest bank by assets, is ready to enact its plans to cut 35,000 jobs having paused much of its overhaul during the covid-19 pandemic. According to Reuters, the UK-based bank's new CEO, Noel Quinn, has sent a memo to HSBC's 235,000 employees around the world outlining the renewed plan. The BBC, which has seen the memo, said some of the cuts are likely to come from the merging of the bank's commercial and investment arms.  At the same time a freeze on all external hiring ...

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Author spotlight

Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.