“We could not pause the job losses indefinitely - it was always a question of ‘not if, but when’,” Quinn said.
(June 16): HSBC (HSBA.L) is resuming a massive redundancy plan it had put on ice after the coronavirus outbreak, and will cut 35,000 jobs over the medium term, a memo seen by Reuters on Wednesday showed.
The bank will also maintain a freeze on almost all external recruitment, Chief Executive Noel Quinn said in the memo sent to the bank’s 235,000 staff worldwide.
