HSBC may cut up to 14,000 more jobs

15 May 2013 10:25 am Views - 3454

HSBC could cut another 14,000 jobs as part of the next phase of its plan to cut up to $3 billion more in annual costs and slim down, it said today.

The bank said in slides accompanying a strategy update that its employee number could fall to 240,000 to 250,000 between 2014 and 2016, from 261,000 at the end of 2012.

The bank said last week its headcount would drop to about 254,000 when current disposals and announced cuts take effect, down about 46,000 from when Gulliver took over. (REUTERS)