• Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups
 

Talk Finance

£$$€№₮IAL €¢¤₦¤MI¢ №€₩$
  • Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups

Talk Finance

  • Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups

In Money Matters

HSBC cuts the workforce

7th October 2019

HSBC cuts the workforce Pin It

The British bank HSBC may be scrapping some 10,000 jobs. Plans for this are currently being worked out by the new interim chief executive Noel Quinn, according to business newspaper Financial Times on Monday.

The newspaper relies on insiders, who speak of the most ambitious proposals within the financial group to control costs. Approximately 238,000 people work at HSBC worldwide. Many banks cut the workforce to reduce costs because they suffer from low interest rates, international trade tensions and brexit uncertainty.

Deutsche Bank, for example, announced in August that it would cut 18,000 jobs. Barclays, Société Générale and Citigroup have also announced job cuts. The reorganization at HSBC comes on top of a recently announced plan whereby 4,700 jobs will disappear. HSBC did not want to respond.

Share

No Comments

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Previous Post

German factory orders are…

In Foreign Affairs

German factory orders are continuing to decline

View Post

Next Post

Strikes at rivals help easyJet…

In Domestic Affairs

Strikes at rivals help easyJet to move forward

View Post

In Domestic Affairs

Brexit causes a massive HR re-distribution among financial specialists

View Post

In IT, Innovation and Startups

Europeans are concerned about personal data use in GB

View Post

In Foreign Affairs

EU and UK remain committed to resolve the trade issues

View Post

In IT, Innovation and Startups

Jack Ma considers divestment from ANT Group

View Post

Newsletter

Latest News

Boris Johnson

View

Dyson tax case may vacuum out several MPs and PM

22nd April 2021

View

Sleepy Joe turns out to be Speedy Joe, according to Richard Koo

21st April 2021

View

Inflation target still not met

21st April 2021

View

Amazon may become 6th largest supermarket chain

20th April 2021

Allow us to introduce ourselves

Talk-Finance.co.uk, the analytic media. We are focused on the fresh business, M&A and financial data. We pay attention to the interesting new projects and startups while not letting the whole picture to let unnoticed.

  • Investing.com
  • Runch.co.uk

Sign Up for Our Newsletter

Our friendly crew

  • Matthew Patridge, the chief Editor
  • Chris Kimble, the managing Editor
  • Matthew Weller, webmaster&technical stuff
  • Charles Sizemore, author
  • David Stevenson, author
  • Helen Rush, author

Contact us by [email protected]

© 2019 Talk Finance - All Rights Reserved. [email protected]