Thread regarding HSBC layoffs

Media Coverage - 35,000 Layoffs Announcement by HSBC

Here is what I've got so far...


The Guardian

  • HSBC to cut 35,000 jobs worldwide as profits plunge

https://www.theguardian.com/business/2020/feb/18/hsbc-to-cut-35000-jobs-worldwide-as-profits-plunge-coronavirus


BBC

  • HSBC signals mass job cuts as profits plunge

https://www.bbc.com/news/business-51499776


Daily Mail

  • HSBC to cut 35,000 jobs as profits plunge

https://www.dailymail.co.uk/money/markets/article-8015317/FTSE-LIVE-Oil-prices-drop-coronavirus-dampens-demand-HSBC-profits-plunge-third.html


The Sun

  • HSBC to cut 35,000 jobs over three years as profits fall 33 per cent

https://www.thesun.co.uk/money/10984939/hsbc-cut-35000-jobs/


Pymnts

  • HSBC Reorganization Slashes 35K Positions, $100B Assets

https://www.pymnts.com/news/international/2020/hsbc-reorganization-slashes-35k-positions-100b-assets/


Seeking Alpha

  • Major overhaul at HSBC results in 35K layoffs

https://seekingalpha.com/news/3542526-major-overhaul-hsbc-results-in-35k-layoffs


IBTIMES

  • HSBC Layoffs 2020: 35,000 To Lose Jobs After 2019 Pre-tax Profit Miss

https://www.ibtimes.com/hsbc-layoffs-2020-35000-lose-jobs-after-2019-pre-tax-profit-miss-2924157


Times of India

  • HSBC to slash 35,000 jobs, shed assets wor ..

http://timesofindia.indiatimes.com/articleshow/74186972.cms


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Post ID: @OP+13zt15V4

3 replies (most recent on top)

Original Poster - How did you make the separator lines between sections?

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Post ID: @1Wloo+13zt15V4

Those layoffs were paused. But now are un-paused.

https://www.bloomberg.com/news/articles/2020-06-17/hsbc-restarts-plan-to-cut-35-000-jobs-to-boost-profit-growth

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Post ID: @1Wljv+13zt15V4
- Facing substantial challenges in its key markets, HSBC (NYSE:HSBC) is cutting 35,000 jobs and $100B in assets over the next three years, and will incur $7.2B of costs because of the restructuring.
- "Around 30% of our capital is currently allocated to businesses that are delivering returns below their cost of equity," said interim CEO Noel Quinn, adding that net profit at the bank fell 53% to $5.97B in 2019.
- HSBC will also suspend buybacks for two years (but maintain its dividend) and close around a third of its 224 underperforming U.S. branches.
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Post ID: @frl+13zt15V4

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