HSBC has announced it will cut 35,000 jobs worldwide over the next 3 years as part of a dramatic restructure, as it reported that its annual profits fell by a third
: HSBC has announced it will cut 35,000 jobs worldwide over the next three years as part of a dramatic restructure, as it reported that its annual profits fell by a third.
London-headquartered HSBC will see its workforce drop to 200,000, from 235,000, in the next three years. The measures are part of a drive to save $4.5 billion by 2022, and represents about 15% of the bank’s workforce, but the bank did not reveal where the cuts would be made. HSBC makes most of its profits in Asia, and warned that the coronavirus has disrupted operations in mainland China and Hong Kong
Interim CEO Noel Quinn said the bank is monitoring the situation closely. “Longer term, it is also possible that we may see revenue reductions from lower lending and transaction volumes, and further credit losses stemming from disruption to customer supply chains,” he said in aThe bank is also slimming down its U.S. operations, closing 30% of its 224 branches and repositioning its services towards international clients as it seeks to cut costs.
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 profit drops 33%HSBC says it's cutting around 35,000 jobs and dramatically overhauling its business after profit plunged by a third in 2019
Les mer »
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 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 »
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 »
HSBC sets new cost cutting, profit targets after 2019 profit falls 33%HSBC Holdings PLC on Tuesday unveiled plans to cut costs and simplify its struct...
Les mer »