FT.com / Companies / Banks – HSBC in fresh job cuts in Hong Kong


HSBC plans to cut 500 jobs overall in Asia, two months after the banking giant shed 100 staff in the region as part of a shake-up of its global banking and markets division.

The latest job losses, centred on Hong Kong, will span global banking and markets, commercial banking and personal banking, and underscore HSBC’s belief that the financial market turmoil has spread to businesses and consumers in the real economy.

In an e-mail to HSBC’s Hong Kong staff, Peter Wong, an executive director, blamed the move on “deteriorating economic conditions” and the bank’s “cautious outlook” for 2009.

via FT.com / Companies / Banks – HSBC in fresh job cuts in Hong Kong

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About zyakaira

Investment Banker, 40s, Bangalore This Biopic and this web recreates how one point of view, one person can impact a tremendous economic engine that the world thrives and mis-thrives on. This one has the knowledge and the civil sense , the art of conversation and some good writing to mentor others as powerful and help global managers develop and fine tune their approach on US markets, China, India and the world. Read on here, and let me know what you need. It can be a race for TRPs, a race for new markets and a race to do what is right. I have the pulse of the crisis, the recovery and the market direction and can help you build and refine your strategy as i have helped thousands of managers and multiple global corporations. Of course, it’s more fun if you talk to me. I am in favor of leading this moving of the economic crisis and will partner with you in a soft and subtle way, just the way we both ride to the top. But you can write with us, opine and just reply with aplomb and shine on Twitter , 4 square , Facebook and any other social “choupal” of choice via zyaadakairaada Profile & Portfolio - SocialPicks Different flavours at: http://benchilibowl.wordpress.com http://zyaada.mp

Posted on November 20, 2008, in Bank Stocks, Financial Markets, Global, Investments and tagged , , , , , , . Bookmark the permalink. Leave a comment.

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