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HSBC Cutting 35,000 Jobs, Focusing on More Profitable Markets

HSBC Cutting 35,000 Jobs, Focusing on More Profitable Markets

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FintechNews Roundup
··1 min read

HSBC is looking to scale back their operations in the US, mainland Europe and in their investment bank; at the same time they plan to invest in Asian and Middle Eastern markets in order to increase profits; currently they make half of their revenue in Asia; the bank shared that net profits fell 53% to $5.97 billion last year and that they were suspending share buybacks for two years; it is also expected that HSBC will face challenges in the UK due to the economic uncertainty; among other changes reported by the Wall Street Journal, the bank is bringing retail banking, wealth management and private banking into one unit. The Wall Street Journal

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.

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