29 Jul '11, 5am

HSBC may slash more than 10,000 jobs, says report

HONG KONG - Banking giant HSBC Holdings may cut more than 10,000 jobs worldwide as part of its plan to slash costs by up to US$3.5 billion (S$4.21 billion) a year, British broadcaster Sky News reported yesterday. HSBC chief executive Stuart Gulliver had in May announced a far-reaching plan to cut costs and revive flagging profits by exiting dozens of countries and refocusing on its areas of strength. He did not say then how many jobs would be lost from its 300,000 global workforce. Last month, HSBC cut 700 jobs in its United Kingdom retail banking arm out of its staff of 55,000 in the country. HSBC's Singapore business continues to grow, however. The bank, which moved its chief executive to Hong Kong from London last year, had also said in May that it would hire another 1,000 staff over the next five years in Singapore to add to its 3,500-strong staff here. Sky's report on...

Full article: http://www.todayonline.com/Hotnews/EDC110729-0000069/HSBC...

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HSBC to slash over 10,000 jobs

HSBC to slash over 10,000 jobs

straitstimes.com 28 Jul '11, 6am

HSBC will slash more than 10,000 jobs as part of the global banking giant's recently announced cost-cutting drive, a repor...

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channelnewsasia.com 28 Jul '11, 7am

HONG KONG: HSBC will slash more than 10,000 jobs as part of the global banking giant's recently announced cost-cutting dri...

Global banking giant HSBC to announce next week plans to cut 10,000 to 15,000 jobs in the coming year

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straitstimes.com 30 Jul '11, 11pm

Global banking giant HSBC will announce next week plans to axe between 10,000 and 15,000 jobs in the coming year as part o...

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