The banking sector continues to suffer drastic layoffs as the global economic outlook remains uncertain. The latest financial institution reported to be set for cutting a massive amount of workers is HSBC, which has already announced firing thousands of people just a few weeks ago.

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HSBC to Cut High-Paying Jobs in Europe

London-headquartered multinational investment bank HSBC is planning to let go of up to 10,000 of its employees as a new cost-cutting measure, British media reported on Monday. The latest round of downsizing will target mostly high-paid roles and will be mainly focused on shrinking the bank’s operations in Europe.

This news comes just a few weeks after the investment bank announced the previous firing of up to 4,700 employees, about 2% of its global workforce. Those cuts were said to be focused on management roles and were in response to a bleak global outlook. They also coincided with the sudden and unexplained exit of HSBC’s…

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Source: https://news.bitcoin.com/banking-giant-hsbc-set-to-fire-10000-more-employees/