HSBC is to cut 35,000 jobs and $100 billion in assets as it scales back operations in the U.S. and mainland Europe as well as in its investment bank
LONDON—HSBC Holdings PLC said it would cut 35,000 jobs and $100 billion in assets in the next three years as it scales back its operations in the U.S., mainland Europe and its investment bank.
Europe’s biggest bank by assets plans to invest more in its fast-growing Asian and Middle Eastern operations to boost profit. HSBC operates in more than 50 countries but makes half its revenue in Asia.
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