HSBC to cut 35,000 jobs

HSBC’s told staff it’s going ahead with cutting 35,000 jobs around the world.

The bank had postponed the massive redundancy plan because of the Covid-19 outbreak.

But in a memo to workers its chief executive says it was always a question of ‘not if, but when’.

The move’s part of a wider restructuring aimed at reducing costs, after profits last year fell by about a third.


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