HSBC to cut as many as 25,000 jobs

9th June, 2015
HSBC will step up investment in Asia, it said.

HSBC Holdings will eliminate as many as 25,000 jobs in cost-cutting by 2017 as chief executive Stuart Gulliver seeks to reverse profit declines.

Europe’s largest bank plans to reduce full-time employees by 22,000 to 25,000, or about 10 per cent of staff, the lender said in a presentation on its website on Tuesday.

HSBC will aim for annual cost savings of $4.5 billion to $5 billion by 2017 and sell businesses in Turkey and Brazil, according to a...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month, €19.99 Monthly thereafter

Get basic

*New subscribers only

You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

2 Yearly

€315

€248

Unlimited Access for 2 Years

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

Andrea Cleary: Don’t fall for the long con of 80 hours a week

Emer McLysaght: Music to our years

Séamas O’Reilly: What happens when the male gaze gets turned on itself?

Willie O’Reilly: Trump gets personal with a special message

Media Willie O'Reilly 7 hours ago