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HSBC to cut 1,100 jobs worldwide due to turmoil
By MaltaMedia News
Sep 26, 2008 - 10:30:53 AM
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Financial turmoil all around the globe has caused HSBC to announce that over a 1,100 of its employees will be made redundant over the coming months.
The BBC revealed that “About half of the cuts, which will affect back room jobs at its global banking and markets operation, will take place in the UK.”
In August, HSBC stated that its mid-term profits fell by 28% while pre-tax profits fell by 35%.
According to the BBC’s report, many of the job-losses will be at the headquarters of HSBC's investment banking division in London.
© Copyright 2008 by MaltaMedia.com
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Sep 29, 2008 - 12:43:04 PM CET
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