HSBC said Tuesday that it planned to cut about 1,150 jobs in Britain as the bank adjusts to new regulations for wealth advisers.
HSBC said it would eliminate 3,166 positions but create 2,017 jobs, mainly in its wealth management and advice business, after new rules took effect requiring advisers to hold additional qualifications. The job cuts are separate from a cost-cutting plan that HSBC announced in 2011, when it said it would reduce about 30,000 positions over the next three years.
BASF To Cut 500 Jobs at Performance Products Unit | Fox Business
A total of up to 350 job cuts will be in the Basel area, including at the Basel-based Business Center Switzerland.
-The paper chemicals division, headquartered in Basel, is not affected by the measures.
-The restructuring involves businesses with plastic additives, pigments, water, leather and textile chemicals.
-In the pigments and resins business unit, European product and quality management and product safety will be pooled in Ludwigshafen. Global product management lead for the business will be bundled in Hong Kong.
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