This site uses cookies. By accepting cookies you can optimise your browsing experience. Read more.
UK: HSBC to axe up to 50,000 jobs worldwide00:51

UK: HSBC to axe up to 50,000 jobs worldwide

United Kingdom, London
June 9, 2015 at 11:38 GMT +00:00 · Published

Footage shows the UK HSBC headquarters in Canary Wharf, London on Tuesday after HSBC Holdings announced major changes in the company, including a new market policy and the relocation of the British headquarters from London to Hong Kong. The HSBC Management sent the statement to the Hong Kong Stock Exchange, Tuesday, declaring the decision to reduce its key assets to $290 billion (€260 billion).

Due to the changes, HSBC expect to cut 50,000 jobs globally -around half of them due to the selling of businesses in Brazil and Turkey. The UK is expected to see the loss of around 8,000 jobs.

In 2014 HSBC was reported to be the world's third largest bank by assets ($2.6 trillion (€2.3 trillion) total assets), after the Industrial & Commercial Bank of China (ICBC) and China Construction Bank Corporation.

UK: HSBC to axe up to 50,000 jobs worldwide00:51
No Account? Sign up!
Description

Footage shows the UK HSBC headquarters in Canary Wharf, London on Tuesday after HSBC Holdings announced major changes in the company, including a new market policy and the relocation of the British headquarters from London to Hong Kong. The HSBC Management sent the statement to the Hong Kong Stock Exchange, Tuesday, declaring the decision to reduce its key assets to $290 billion (€260 billion).

Due to the changes, HSBC expect to cut 50,000 jobs globally -around half of them due to the selling of businesses in Brazil and Turkey. The UK is expected to see the loss of around 8,000 jobs.

In 2014 HSBC was reported to be the world's third largest bank by assets ($2.6 trillion (€2.3 trillion) total assets), after the Industrial & Commercial Bank of China (ICBC) and China Construction Bank Corporation.

Top downloads in last 24 hours
01:33
Argentina: Police raid clinic of Maradona’s physicianArgentina: Police raid clinic of Maradona’s physician
November 29, 2020 at 17:30 GMT +00:00
02:54
Thailand: Primates go ape for the Monkey Buffet FestivalThailand: Primates go ape for the Monkey Buffet Festival
November 29, 2020 at 07:56 GMT +00:00
01:49
France: Police use tear gas as protests against new security law escalateFrance: Police use tear gas as protests against new security law escalate
November 28, 2020 at 18:29 GMT +00:00
02:59
France: Chaos hits Paris as protesters clash with police at anti-security bill demoFrance: Chaos hits Paris as protesters clash with police at anti-security bill demo
November 28, 2020 at 23:30 GMT +00:00
01:45
France: Police use water cannon, protesters respond with fireworks as Paris demo turns violentFrance: Police use water cannon, protesters respond with fireworks as Paris demo turns violent
November 29, 2020 at 00:07 GMT +00:00
02:58
Afghanistan: At least 30 killed by car bomb explosion in GhazniAfghanistan: At least 30 killed by car bomb explosion in Ghazni
November 29, 2020 at 11:11 GMT +00:00
05:08
Sudan: Thousands of Ethiopians fleeing from Tigray war relocated to Um Rakuba campSudan: Thousands of Ethiopians fleeing from Tigray war relocated to Um Rakuba camp
November 29, 2020 at 04:26 GMT +00:00
04:17
Turkey: Istanbul craftsman designs luxurious gold and silver masks amid pandemicTurkey: Istanbul craftsman designs luxurious gold and silver masks amid pandemic
November 28, 2020 at 21:30 GMT +00:00
Pool for subscribers only
00:47
Indonesia: Lewotolo volcano erupts spewing ash into skyIndonesia: Lewotolo volcano erupts spewing ash into sky
November 29, 2020 at 05:56 GMT +00:00
02:59
Argentina: Thousands march against abortion rights in Buenos AiresArgentina: Thousands march against abortion rights in Buenos Aires
November 29, 2020 at 06:45 GMT +00:00
02:47
Armenia: Protesters demand government action on returning prisoners of warArmenia: Protesters demand government action on returning prisoners of war
November 28, 2020 at 17:29 GMT +00:00
02:11
Italy: Floods wreak havoc and kill at least 3 in SardiniaItaly: Floods wreak havoc and kill at least 3 in Sardinia
November 28, 2020 at 18:50 GMT +00:00
03:31
Ice rink opens in Moscow's Red Square spreading holiday cheer Ice rink opens in Moscow's Red Square spreading holiday cheer
November 29, 2020 at 00:59 GMT +00:00
01:18
Belarus: Minsk residents hold 'march of neighbours' against president Lukashenko Belarus: Minsk residents hold 'march of neighbours' against president Lukashenko
November 29, 2020 at 18:14 GMT +00:00
03:15
Vatican: Pope Francis appoints first African American cardinal in Catholic historyVatican: Pope Francis appoints first African American cardinal in Catholic history
November 29, 2020 at 00:46 GMT +00:00
Pool for subscribers only
01:18
Iran: Mourners gather for funeral of slain nuclear scientistIran: Mourners gather for funeral of slain nuclear scientist
November 29, 2020 at 09:33 GMT +00:00
03:28
France: Damage and debris on the streets of Paris after violent security bill protestsFrance: Damage and debris on the streets of Paris after violent security bill protests
November 29, 2020 at 14:20 GMT +00:00
01:59
UK: More arrests made at anti-lockdown protest in LondonUK: More arrests made at anti-lockdown protest in London
November 28, 2020 at 19:19 GMT +00:00
02:33
UK: Arrests made at London anti-lockdown rallyUK: Arrests made at London anti-lockdown rally
November 28, 2020 at 14:18 GMT +00:00
02:34
Guatemala: Protesters burn bus at massive anti-government demoGuatemala: Protesters burn bus at massive anti-government demo
November 29, 2020 at 11:19 GMT +00:00
View all videos