HSBC to cut 30,000 jobs by 2013


Global banking major HSBC plans to slash around 30,000 jobs worldwide by the end of 2013, as part of a broader cost-cutting drive.

“Around 5000 roles had already gone so far this year and another 25,000 would need to be removed from the 296,000 global workforce,” bank’s Chief executive Stuart Gulliver was quoted as saying by ‘The Guardian’.

“There will be something like 25,000 roles eliminated between now and the end of 2013,” he said.