The bank has suffered a large drop in profit and outlined a large restructuring plan
Thursday 20 Feb 2020 Author: Ian Conway
Europe’s largest bank HSBC ( HSBA ) has revealed plans to slash up to 15% of its workforce over the next three years after earnings more than halved in the year to 31 December. Despite a 4% increase in revenue, net profits slid 53% to just $6bn from $12.6bn as the bank took a $7.3bn write-down on its investment banking and commercial banking units in Europe and a $2.8bn...