HSBC to shed some 35,000 jobs as part of a deep overhaul to focus on faster-growing markets in Asia.
“No trade negotiation is ever straightforward,'' HSBC said in a statement. “It is essential that the eventual agreement protects and fosters the many benefits that financial services provide to both the U.K. and the EU.”
The bank has been carrying out a corporate overhaul designed to boost profitability by focusing on high-growth markets in Asia while shedding businesses and workers in other countries. It plans to revamp its U.S. and European business and shed $100 billion in assets to improve profitability. The sharp drop in 2019 profit reflected slower economic activity but also a $7.3 billion write-down for HSBC's Global Banking and Markets and Commercial Banking divisions in Europe. Revenue rose 5.9 percent in 2019 to $55.4 billion.
The restructuring is expected to cost $6 billion, with another $1.2 billion for asset sales, mainly in 2020 and 2021, the bank said.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
HSBC plans to cut 35,000 jobs as profits drop 33%HSBC says it will cut around 35,000 jobs and dramatically overhaul its business worldwide after reporting a 33% profit plunge in 2019.
Les mer »
HSBC net profit falls 53%, bank to sell assets in overhaulEurope's biggest bank has reported that its net profit fell 53% in 2019 to $6 billion
Les mer »
HSBC To Cut 35,000 Jobs In Huge OverhaulEurope’s biggest bank announced its profits fell by a third, with interim CEO Noel Quinn announcing plans to cut tens of thousands of jobs.
Les mer »
FTSE 100 tumbles as HSBC slips, Apple warns on salesLondon's FTSE 100 slid to a two-week low on Tuesday, weighed down by a 4% d...
Les mer »
HSBC to Cut 35,000 Jobs and $100 Billion of AssetsEurope’s biggest bank plans to scale back its operations in the U.S. and mainland Europe, as well as its investment bank, as it reports a sharp fall in net profit.
Les mer »