HSBC plan to reduce workforce further
19 March 2012
HSBC are expected to cut thousands more staff this year in an attempt to cut further costs.
The company has already reduced its global work force by 42,000 in the last two years as part of a strategic overhaul and the next cuts are expected to be announced in May.
Those close to the bank say the cuts could see the company reduce its workforce by up to 5,000 employees.
In its annual report last week, HSBC promised investors it would save a further $1bn in 2013.
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