HSBC cuts more jobs
HSBC is cutting 120 technology staff in Hong Kong as part of a continued cost-cutting strategy. The bank's broader goal is reduce its global headcount by 25,000 to slash costs. The target, set out in 2015, is due to be achieved by the end of 2017.
HSBC’s 2016 net profit fell 82 per cent from last year, in what the bank calls a period best remembered for its “largely unexpected economic and political events.” Like other global lenders, HSBC is slashing staff to cut costs. Photo: AFP