Banking, finance, and taxes
HSBC to Fire as Many as 35,000
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After its announced rough fourth-quarter earnings, huge bank HSBC told media that it will cut as many as 35,000 jobs.
The bank’s pretax profit fell 33% to $13.4 billion, well below analyst forecasts. It also said coronavirus could cut performance further.
In Europe, it will chop marketing costs. In the United States, it will cut its bank branch network by about a third.
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