UK bank HSBC says to axe 4,000 jobs
2% of the company's workforce will be impacted by the restructuring
Image Credit: Gulf News archives
London: British bank HSBC, fresh from revealing the exit of its CEO John Flint, announced on Monday that it will axe about 4,000 jobs in a new overhaul.
"We've announced a restructuring" that "involves two per cent of our workforce" or 4,000 jobs, said Chief Financial Officer Ewen Stevenson, in a first-half earnings conference call, stressing the job losses would "target more senior ranks".