HSBC: towards more lay-offs?

(CercleFinance.com) - The HSBC share is down 0.
7% in London, with Noel Quinn, its acting chief executive, studying a plan to lay off an additional 10,000 staff, according to Aurel BGC quoting the Financial Times.

The broker says that his predecessor, John Flint, who resigned in early August after just 18 months in charge of the British banking institution - already planned to make 4,700 job cuts.

Aurel BGC reports that this new downsizing could involve highly paid jobs, especially in Europe, while the group has double-digit returns in parts of Asia, according to a source referred to by the FT.


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