HSBC signals mass job cuts as profits plunge

HSBC signals mass job cuts as profits plunge

HSBC has said it will axe around 35,000 jobs as it announced profits for 2019 fell by about a third. That has spurred the bank to target $4.5bn (£3.5bn) of cost cuts by 2022 as part of a major restructuring. The bank's interim chief executive, Noel Quinn, said HSBC would scale back its headcount from 235,000 to about 200,000 over the next three years.

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