At least 30,000 jobs are expected to be axed at HSBC over three years as the UK's largest bank cuts costs in an effort to bolster returns to shareholders.
As he presents the first-half figures on Monday, HSBC's chief executive, Stuart Gulliver, is braced for questions about how many roles will be shed from the bank's 300,000-strong global workforce.
Even before the results were published, he tried to demonstrate that he was pressing ahead with his strategic goals announced in May by unveiling the sale on Sunday of 195 US branches, largely in upstate New York, to enable the bank to focus on commercial and retail banking.
The $1bn sale to First Niagara Bank, which has been growing through acquisitions of rivals, leaves HSBC with 265 branches in the US, mostly in New York. [...]
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