10,000 set to lose jobs in HSBC as bank cuts cost

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Earlier cuts announced in August after CEO's abrupt resignation. FMTNews

Job cuts could be announced when HSBC reports third-quarter results at month end.

The bank, one of several European lenders eliminating roles, is questioning why it has so many people in Europe when it has double-digit returns in parts of Asia, according to the source. During his short tenure as CEO, the bank grappled with a declining stock price, a high-profile sexual harassment case at its investment bank and a failure to hit cost targets.

 

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