As part of its plan to reduce cost by retrenching 30,000 employees by the end of 2013, HSBC Holdings Plc. (NYSE:HBC) has announced job cuts in the UK. The company stated that there would be a reduction of about 3,167 jobs, out of which nearly 950 employees would be redeployed in other departments. This implies an effective job cut for over 2,200 employees.
Jobs to be Impacted
The employees in HSBC’s retail bank, mainly senior and middle level managers, will bear the brunt of this announcement. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards