A man walks past a logo of HSBC outside a branch at the financial Central district in Hong Kong, China June 2, 2015. REUTERS/Bobby Yip
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
HSBC Holdings Plc could announce thousands of job cuts at a strategy day next week, Sky News reported Monday, part of chief executive Stuart Gulliver's overhaul of Europe's biggest bank.The plan could also see Gulliver sell operations in Brazil and Turkey and take a knife to HSBC's investment bank.HSBC declined to comment on the Sky report.Low interest rates and tougher regulations have hurt HSBC more than most banks in recent years, meaning Gulliver has missed some of his profit and cost targets.Several investors and analysts say HSBC has been slower than rivals to restructure its investment bank and Gulliver needs to cut its rates and credit business.
FOLLOW THIS ARTICLE