HSBC Plans to Terminate 35,000 Jobs

Posted on 02/18/2020

HSBC Holdings plc disclosed plans to terminate approximately 35,000 jobs (235,000 current jobs to 200,000 jobs). HSBC’s net profit plummeted 53% to US$ 6 billion in 2019.

HSBC seeks to retool its U.S. and European operations and improve profit margins.

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