Thread regarding HSBC layoffs

HSBC Branches Closing

What are the reasons for the closure of HSBC branches? Is it due to non-profitability? Do the employees get transfers or do they get displaced?

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Many branches have been struggling to make ends meet since the Obama administration made it hard for banks to make money. Internet banks have been a thing for 20 years, even before smartphone apps, so it's been proven you don't even need a physical presence to be a proper bank.

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