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Hsbc Set To Cut Thousands Of Jobs Globally

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HSBC Holdings Plc (HSBA.L) is planning to cut thousands of jobs globally and is set to make an announcement next week, Sky News reported on Monday, citing unidentified sources.

Chief Executive Stuart Gulliver will lay out these plans next week on June 9 at an investor presentation, the broadcaster said.

An estimated 10,000 to 20,000 jobs will be cut, Sky News said, citing insiders. The exact number has yet to be finalised and will be announced next week, it added.

The job cuts will not impact HSBC's scale of operations in Brazil and Turkey, and will not take account of a possible eventual separation of HSBC's UK arm, Sky News said.

The global jobless recovery splutters back into action.

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2017, I thought housing was going to double by then and the banks will all be awash with money, or do they perhaps know something?

I wonder if that will be before or after the great Birmingham relocation


If they are anything like RBS they will pay people £50K to relocate and then make them redundant and hand them another 50K

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