HSBC cuts more jobs in equities overhaul
(11th November 2003 – London) HSBC is to shed 90 equities jobs and shut the doors on some of its European offices as part of a shake-up of its cash share trading business.
The job cuts, which will affect workers in London, New York and mainland Europe, come as a result of HSBC’s recent decision to merge its equities trading and research arms with currency and bond trading.
Like many other investment banks, HSBC has been impacted by the share market downturn.
HSBC recently announced it will shift 4000 call centre and processing jobs from the UK to India, China and Malaysia. It also cut 1400 jobs from its UK head office, blaming high national insurance costs.
Like many other investment banks, HSBC has been impacted by the share market downturn.
HSBC recently announced it will shift 4000 call centre and processing jobs from the UK to India, China and Malaysia. It also cut 1400 jobs from its UK head office, blaming high national insurance costs.
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