London: Banking giant HSBC has announced that it will slash 35,000 jobs worldwide over three years as part of a major shake-up at the banking giant, after revealing that annual profits plunged 33%.
On Tuesday, HSBC said its profits before tax for 2019 dropped 33% to $13.3bn (£10.2bn).
HSBC’s interim chief executive, Noel Quinn, confirmed that the bank would take the axe to its global workforce as part of its radical overhaul. The job cuts represent about 15% of the group’s global workforce.
More details to follow
Read More
- Royal Decree promulgates Law on Rights of Persons with Disabilities
- Ministry of Labour denies rumours on mandatory retirement for employees completing 30 years of service in Oman
- SalamAir signs agreement to establish aircraft wheel, brake maintenance hub
- Forum explores investment partnership, economic integration between Oman and Lebanon
- His Majesty Sultan Haitham congratulates President-elect of Ireland
