HSBC cuts 30,000 jobs, sees more to come - Yahoo! Finance
HSBC has reduced its number of staff by almost 30,000
in the last two years and said more job cuts are likely across the bank
to achieve its cost efficiency targets.
The bank had 266,700 staff at the end of September, down from 296,000 at the end of 2010 and down about 21,000 this year.
HSBC Chief Executive Stuart Gulliver said about 15,000
of the reduction were due to disposals by the bank and he expected more
cuts before the end of 2013 to improve cost efficiency. "We are probably
likely to see the headcount reduce further...in terms of the organic
reduction, there's still some way to go," he told
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