Tuesday, 09 June 2015 - 12:20
HSBC to cut 20,000 jobs globally
HSBC, Europe's biggest bank, is planning to cut 20 thousand jobs around the world as it tries to reduce costs and simplify its business.
That accounts for more than 7% of its 266 thousand jobs globally.
About 8,000 of those cuts will happen in the UK.
HSBC confirmed that it was reviewing whether to move its headquarters out of the UK, and will make a decision by the end of the year.
The lender said it would reduce its asset base by 290 billion dollars in a filing with the Hong Kong stock exchange where it is listed, along with London.