More jobs set to go in latest HSBC global strategy
(3 June 2015 – Global) HSBC chief executive Stuart Gulliver could be ready to cut more jobs across the board as part of his latest strategy to appease investors.
Gulliver outlined the need to cut 25,000 jobs from its global workforce of 296,000 in 2011 when he took the helm of the bank, in 2014 the number of global jobs stood at 266,000.
Another cut of between 10,000 and 20,000 jobs is expected this month when Gulliver outlines his latest global strategy for the business, according to reports.
He is also expected to use the strategy day on 9 June to provide an update on plans to further retrench internationally, including from Brazil and Turkey.
Gulliver has already said he will set out on the day the methodology the bank will use to compare head office locations, forming the basis of any decision to move its headquarters out of London.
Since April the bank has indicated it could move its headquarters out of London following warnings of economic risks for financial institutions if the United Kingdom pulls out of the European Union.
At the time HSBC said regulatory and structural reforms in the wake of the banking crisis had led to the decision.
Gulliver said at the time that any change in location would affect just 250 roles and the board would be presented with the view of the executive team by the end of the year.
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