HSBC to cut up to 10,000 jobs: report - Democratic Underground

marmar

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Thu Jul-28-11 12:57 AM
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HSBC to cut up to 10,000 jobs: report

SYDNEY (MarketWatch) -- HSBC Holdings PLC will soon announce thousands of job cuts as part of a cost-saving efforts, Sky News reported Thursday. More than 10,000 jobs could be cut, the report said, citing an insider at the bank. Some of the cuts will come from the bank's head office, and others generated by the closure of some non-core retail banking operations, the report said. Earlier this month, HSBC said it would axe 672 jobs in France over three years. The moves are part of the bank's strategic plan to improve targets for return-on-equity and its cost-efficiency ratio.

http://www.marketwatch.com/story/hsbc-to-cut-up-to-10000-jobs-report-2011-07-28

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DebJ

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Thu Jul-28-11 01:42 AM
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1. Good. Then they can afford to lower the insane interest rates

on my card. I hope the jobs they are cutting are the ones where I get called almost every week asking me to pay them more money by buying insurance to cover my debt in case I can't work. In other words, to give them extra money to do as they like with, instead of my choosing to pay off extra principal on my card and getting rid of their interest. When hell freezes over..........on second thought, climate change, hmm...need some other choice words.

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aquart

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Thu Jul-28-11 01:49 AM
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2. Oh, those job creators!

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Prometheus Bound

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Thu Jul-28-11 02:22 AM
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3. Someone preparing for financial armageddon?

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