HSBC Holdings (HSBC)

[barnyarddog]

Hong Kong (AFP) - HSBC is planning to lay off up to 10,000 staff, a report said Monday, just weeks after announcing the resignation of its chief executive and the cutting of 4,000 posts citing a weak global outlook.


..."We've known for years that we need to do something about our cost base, the largest component of which is people.

...axe two percent of its global workforce

And last month, Germany's second-largest lender Commerzbank said it plans to cut the equivalent of 4,300 full-time posts -- a tenth of its workforce -- and shut 200 branches as it restructures.

Deutsche Bank has announced 18,000 job cuts and France's Societe Generale 1,600.

https://news.yahoo.com/hsbc-planning-cut-10-000-more-posts-financial-054314315.html