UK bank HSBC says to axe 4,000 jobs

2% of the company's workforce will be impacted by the restructuring

Last updated: August 05, 2019 | 16:33

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A branch of HSBC at a mall (photo for illustration purposes only).

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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".

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