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News / Business / Business Briefs

HSBC bank to cut 35K jobs as part of overhaul

By Wire services
Published: February 18, 2020, 4:46pm

LONDON — HSBC bank said Tuesday it will shed some 35,000 jobs as part of a deep overhaul to focus on faster-growing markets in Asia and better cope with a slew of global uncertainties.

The interim chief executive, Noel Quinn, said the number of people employed by the bank would fall from 235,000 to 200,000 in the next three years. But he said that some of the reductions would come from attrition as opposed to outright cuts.

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