HSBC holdings is planning to cut up to 10 thousand jobs says report

Revealed in the report- HSBC Bank will remove 10 thousand people from their jobs, due to this, steps will be taken

October 7, 2019October 7, 2019

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New Delhi: Britain’s HSBC Bank will hire 10 thousand people to reduce costs. Interim CEO Noil Quinn wants the cost of the entire banking group to be reduced.

This is revealed by the report of the Financial Times on Sunday. According to the newspaper, people whose salary is higher will be removed first from the job.

After the results of the quarter coming at the end of this month, the bank can start a campaign to get people out of jobs by announcing the cost reduction.

Quinn was made the interim CEO in August after John Flint left. The bank had said that in view of the challenging global environment, there was a need to go for this decision.

Flint’s departure was a result of differences with chairman Mark Tucker. This information was given to Reuters by a person involved in the case.