HSBC to cut up to 50,000 jobs, slash investment bank
HSBC will cut almost 50,000 jobs from its payroll, take an axe to its investment bank and shrink its risk weighted assets by $290 billion in an effort to improve its sluggish performance, Europe`s biggest bank said on Tuesday.
Jun 09, 2015, 11:27 AM ISTHSBC to shrink asset base by $290 billion; sell units in Brazil, Turkey
HSBC also set its new target for return on equity at greater than 10 percent by 2017, down from its previous target of 12-15 percent by 2016.
Jun 09, 2015, 10:04 AM IST