Location of affected unit(s):
Mostly Europe (the UK, France and Poland), the US, the Middle East and Latin America.
Financial and insurance activities
64 - Financial service activities, except insurance and pension funding
Planned Job Reductions min:
Planned Job Reductions max:
Type of Restructuring:
Employment Effect Start:
Foreseen End Date:
British banking company HSBC has already cut 5,000 jobs worldwide this year and another 25,000 job cuts are planned to occur by 2013. The most affected countries are the UK (700 job cuts), France (700 job cuts), the Middle East and parts of Latin America. HSBC also announced the closure of its retail bank in Poland last week. The group is still hiring in emerging economies such as Brazil and Mexico.
01-08-2011The Financial Times