HSBC mulls thousands more job cuts: report

Tuesday, 19 March 2013 - 12:35


Financial Times reports that HSBC could cut up to another 5,000 jobs as Europe's biggest bank looks to find further savings.

The business daily said HSBC -- Europe's largest bank by market value -- was set to outline the next stage of a strategic overhaul at an investor day in May.

Cutting 5,000 posts would help the London-headquartered lender make savings of 1 billion dollars, a target chief executive Stuart Gulliver wants to achieve this year.