News: HSBC to cut over 50 jobs in banking division

#Jobs

HSBC to cut over 50 jobs in banking division

With this move, the affected employees from various HSBC’s investment banking division will be out of their jobs in the upcoming weeks.
HSBC to cut over 50 jobs in banking division

Global banking company HSBC Holdings is planning to eliminate 50 jobs in its global banking and market unit as a part of an annual performance review of their staff, reported Bloomberg.

With this move, the affected employees from various HSBC’s investment banking division will be out of their jobs in the up-coming weeks. The report highlighted that the cutbacks were not focused on any particular business or location. 

The job losses were first reported by Reuters, which said the U.K.’s largest bank was eliminating roles following budget planning by the lender’s senior management team.

Currently, the bank employs about 49,000 staff in its global banking and markets division at the end of 2017. 

Topics: Jobs, Others

Did you find this story helpful?

Author

QUICK POLL

Do you think India Inc. has been successful in empowering its women workforce?

On News Stands Now
q_auto,f_auto/v1554872649/mag-april-2019.png

Subscribe now to the All New People Matters in both Print and Digital for 3 years.

How will HR practitioners looking to stay ahead of the curve evolve their performance management strategies in 2019? What performance management trends can we see organizations adopting for a workforce that comprises of a mix of regular employees and gig workers? This issue attempts to decipher the shift and answer questions facing the HR community trying to implement the real-time feedback system.

Subscribe
And Save 59%

Subscribe now