HSBC, Europe's biggest bank - News

[Navek]

HSBC, Europe's biggest bank, is planning to cut 8,000 jobs in the UK as it tries to reduce costs.
The bank has 48,000 UK workers and will make cuts in both its retail and investment banking operations.
Chief executive Stuart Gulliver said the jobs would go by "natural attrition". Staff turnover stood at about 3,000 annually.
A total of 25,000 jobs could be axed globally, meaning close to 10% of HSBC's 266,000 workers will go.
The bank will also rebrand its UK High Street branches but is yet to decide on a new name.
Options could include reviving the Midland Bank brand, which it bought in 1992, or adopting the name of its UK online bank, First Direct.
More...

http://www.bbc.co.uk/news/business-33058957

[Groucho]

Maybe the 'Banco Internationale Sepp Blatter'?

[waddo]

Looks like they have taken a leaf out of the UK Governments play book and are doing the same thing to themselves as the Government has done to its military!

[sophie]

I caught the tail end of BBC news this morning and I thought I heard them say that HSBC would be closing their branches in Turkey and Brasil. I stand to be corrected if I heard incorrectly!!

[jacob]

You heard correctly, HSBC are closing down in Turkey and Brasil and cutting 8,000 staff worldwide.

[cambridge]

HSBC is actually looking to sell off its Turkish banking interests. When that happens, there are interested parties, we will find out which if any branches will close. I would imagine that negotiation are well advanced as uncertainty is the last thing buyer or seller will want.

[rocking]

Jacob, think you will find 8,000 is in UK only.

[rocking]

Jacob, think you will find 8,000 is in UK only.

[Keithcaley]

I'm afraid that's right jacob!

Globally they're talking about 25,000 - getting on for 10% of their worldwide staff of around 266,000

[jacob]

My apologies, you are correct, maybe I need a and a

[rocking]

Mentioned earlier in one news programme that profits in UK amounted to 3% whereas Asia was something like 84%. Didn't catch whether that was from the retailing bank side.

[Bert]

HSBC is to remain in UK though! Just under a new name. (Fortunately)