GostHacked Posted June 9, 2015 Author Report Share Posted June 9, 2015 HBSC one of the problematic banks is now cutting more than 25,000 jobs to save on operation costs. http://www.bbc.com/news/business-33058957 HSBC, Europe's biggest bank, is planning to cut 8,000 jobs in the UK as it tries to reduce costs.The bank has 48,000 UK workers and will make cuts in both its retail and investment banking operations. Chief executive Stuart Gulliver said the jobs would go by "natural attrition". Staff turnover stood at about 3,000 annually. A total of 25,000 jobs could be axed globally, meaning close to 10% of HSBC's 266,000 workers will go. The bank will also rebrand its UK High Street branches but is yet to decide on a new name. Options could include reviving the Midland Bank brand, which it bought in 1992, or adopting the name of its UK online bank, First Direct. Another tactic we see from large corps when they get into trouble is to rebrand themselves. Quote Link to comment Share on other sites More sharing options...
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