Financial and insurance activities
64.9 - Other financial service activities, except insurance and pension funding
Planned Job Reductions min:
Planned Job Reductions max:
Type of Restructuring:
Banking company HSBC has announced that it plans to cut 1,100 jobs from its worldwide workforce of 335,000. It has attributed the job cuts to the current financial turmoil including the market conditions and economic environment, adding that the company's outlook for 2009 was cautious. Around half of the job cuts will take place in the UK, many at the investment banking division headquarters in Canary Wharf, London.