LONDON: HSBC is planning to cut up to 10,000 jobs as interim chief executive Noel Quinn seeks to reduce costs across the banking group, the Financial Times reported on Sunday .
The plan represents the lender's most ambitious attempt in years to cut costs, the newspaper said, citing two people briefed on the matter. It said the cuts will focus mainly on high-paid roles.HSBC could announce the beginning of the latest cost-cutting drive and job cuts when it reports third-quarter results later this month, the FT said, citing one person briefed on the matter.
Flint's exit was a result of differences of opinion with chairman Mark Tucker over topics including approaches to cutting expenses, a person familiar with the matter told Reuters in August.
WOW! The main bank for money laundering of proceeds from drug smuggling, weapons dealing & body parts by the Racketeers is hurting. Tough times all around.
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