Britain’s HSBC to axe 1,100 jobsSeptember 26th, 2008 - 9:12 pm ICT by IANS
London, Sep 26 (DPA) British banking giant HSBC Holdings PLC is to cut 1,100 jobs worldwide, the company said Friday, blaming the cuts on the world financial crisis.Around half of the job cuts will be in Britain, mainly at the investment banking section in London.
A company spokesperson said Europe’s largest bank by market value is reducing its workforce because of market conditions and “our cautious outlook for 2009″.
HSBC employs around 335,000 people worldwide and the job cut will only hit 0.3 percent of its total headcount. The bank announced last month that its half year profits fell 28 percent to $10.2 billion.
- HSBC to cut another 25,000 jobs despite rise in profits - Aug 02, 2011
- Unions protest HSBC's plan to axe 3,000 jobs in Hong Kong - Sep 08, 2011
- HSBC to axe 10,000 people - Jul 31, 2011
- HSBC to cut 30,000 jobs worldwide - Aug 02, 2011
- HSBC to cut 25,000 jobs by 2013 - Aug 02, 2011
- Chinese firms eye India for business - Feb 22, 2012
- HSBC to cut 330 jobs in Britain - Dec 06, 2011
- Wall Street extends loss - May 18, 2012
- Nokia to close facilities, cut up to 10,000 jobs worldwide - Jun 15, 2012
- Swiss bank UBS to cut 3,500 jobs - Aug 24, 2011
- Sony to axe 10,000 jobs worldwide - Apr 09, 2012
- China's manufacturing sector picks up momentum - Apr 23, 2012
- Olympus to cut 2,700 jobs - Jun 09, 2012
- U.S. government seeks names of U.S. residents with HSBC India bank accounts to avoid taxes - Apr 08, 2011
- Nokia Siemens Networks to cut 17,000 jobs globally - Nov 24, 2011