Arab Today, arab today hsbc plans thousands of job cuts
Last Updated : GMT 22:27:14
Arab Today, arab today
Arab Today, arab today

HSBC plans thousands of job cuts

Arab Today, arab today

Arab Today, arab today HSBC plans thousands of job cuts

HSBC Private Bank
London - AFP

Scandal-hit global bank HSBC plans to cut thousands of jobs across its global operations, broadcaster Sky News reported on Tuesday.

The number of job cuts has yet to be finalised, but "insiders said that it was likely to be between 10,000 and 20,000", Sky reported.

The cuts to be announced by chief executive Stuart Gulliver at an investor update on June 9 would be implemented by 2017, according to the report.

A spokeswoman for the bank, which employs 266,000 people around the world, declined to comment.

Europe's biggest bank has weathered a stream of scandals in the past year, including accusations its Swiss private banking arm helped wealthy clients dodge taxes.

The Asia-focused lender faces a French criminal investigation over the allegations.

Last year, it was separately fined by US and British regulators for attempting to rig foreign exchange markets.

Investors next week may be keen to hear whether the bank will relocate its headquarters from Britain, where it has been based since 1992.

Founded in Hong Kong and Shanghai in 1865, Gulliver has said the bank may relocate due to increased British regulation and taxation of the banking sector.

HSBC currently employs 48,000 across Britain, including around 8,500 at its London headquarters.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today hsbc plans thousands of job cuts Arab Today, arab today hsbc plans thousands of job cuts

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today hsbc plans thousands of job cuts Arab Today, arab today hsbc plans thousands of job cuts

 



Arab Today, arab today Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday