HSBC to Cut 35,000 Jobs and $100 Billion of Assets

LONDON—HSBC Holdings PLC said it would cut 35,000 jobs and $100 billion in assets in the next three years as it scales back its operations in the U.S., mainland Europe and its investment bank.

Europe’s biggest bank by assets plans to invest more in its fast-growing Asian and Middle Eastern operations to boost profit. HSBC operates in more than 50 countries but makes half its revenue in Asia.

Well... thats some bad news..

Maybe should have taken easy on helping money launderers.

Real shame the corrupt banks are going under... not

Wat?

As the HSBCs' and the Deutsches' begin scaling back, most assets affected will be the most leveraged. A good omen for the Taxpayer burnt by 2008.

Revenue: 53.8 billion USD (2018) Mark Tucker- Here's a box with your belonging good luck now get the f out of here.

So much winning

This doesn't make CENNZ!

Let’s remember, HSBC haven’t made a loss, they’ve just determined that $13.35 BILLION dollars of PURE ‘in your pocket’ PROFIT isn’t enough.

I'm not totally surprised considering their economy has been slowing down lately and with the coronavirus having negatively affected their manufacturing operations and 'trade war' issues causing some companies to switch supply chain to other countries it's only a matter of time.

Not a surprise HSBC like banking in the 90s

Bitcoin beatdown

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HSBC is cutting workers... I WONDER if it is slashing the pay and bonus's of bosses, cutting the number of Senior Executives, and their lavish pay and conditions, because THAT IS WHERE THE REAL SAVINGS ARE. Right at the top!!

株価あがるといいなー。楽しみー。

Its only down 5% TODAY

Darlene_Edw Is the next economic crisis starting?

Thrive in opportunity

The next GFC?

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HSBC plans to cut 35,000 jobs as profits drop 33%HSBC says it will cut around 35,000 jobs and dramatically overhaul its business worldwide after reporting a 33% profit plunge in 2019. HSBC is leveraging blockchain technology that's why those jobs are obsolete, get ready there will be plenty more 🙁 Don't let them cut jobs. Make them get a better CEO. Tax what they save. workersBeforeProfit workersFirst hsbc Paz88S
Source: CNN - 🏆 4. / 95 Read more »

HSBC sets new cost cutting, profit targets after 2019 profit falls 33%HSBC Holdings PLC on Tuesday unveiled plans to cut costs and simplify its struct... Good bye all British jobs why trade in a country that no longer wants to be part of the real world British multinational. Hold off on your dire predictions (hope) that the economy will crash. Are HSBC's loses real, or just an accounting fudge to make job cuts more acceptable (to those who's jobs aren't being cut)?
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HSBC net profit falls 53%, bank to sell assets in overhaulEurope's biggest bank has reported that its net profit fell 53% in 2019 to $6 billion I'm no expert. But that doesn't sound good. Especially for a bank... $6 Billion!!? Bonuses all round! Oh diddums!
Source: ABC - 🏆 471. / 51 Read more »

HSBC plans to cut 35,000 jobs as profits drop 33%HSBC says it will cut around 35,000 jobs and dramatically overhaul its business worldwide after reporting a 33% profit plunge in 2019. HSBC is leveraging blockchain technology that's why those jobs are obsolete, get ready there will be plenty more 🙁 Don't let them cut jobs. Make them get a better CEO. Tax what they save. workersBeforeProfit workersFirst hsbc Paz88S
Source: CNN - 🏆 4. / 95 Read more »