2nd Jun 2015 05:24
LONDON (Alliance News) - HSBC Holdings PLC will announce a plan next week to cut thousands more jobs across its global workforce, Sky News reports.
The report indicated that Chief Executive Officer Stuart Gulliver will disclose a target when he updates shareholders on the bank's strategy on June 9, laying out a reduction that will probably affect 10,000 to 20,000 people. The numbers were still being worked on and had yet to be finalised.
Europe's biggest lender employed 258,000 people at the end of last year.
The report said that the headcount reductions figure announced next week will exclude the potential impact of the sale of HSBC's operations in Brazil and Turkey, where the bank does not disclose how many people work for it. The new jobs figure will also not take account of a possible eventual separation of HSBC's UK arm.
Copyright RTT News/dpa-AFX
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