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HSBC To Cut 3,000 Jobs in Hong Kong HSBC (NYSE:HBC) announced on Wednesday that it will cut about 3,000 jobs in Hong Kong over the next three years as a part of global restructuring and that the bank will look to redeploy some staff to other roles in the company. Last August, the bank announced that it was cutting 30,000 jobs globally by 2013 and had also plans to sell almost half of its retail bank branches throughout the U.S. as part of a new strategy to concentrate on fast growing emerging markets. HSBC Holdings (NYSE:HBC) has a potential upside of 0.8% based on a current price of $41.07 and an average consensus analyst price target of $41.4. Tags: HSBC, Hong Kong, Job Cuts, business, finance, investing, news, trading 1 Downloads - Last from: (Your Blog here!) |
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