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June 17, 2020, 3:11 a.m. EDT

HSBC sends memo to staff saying 35,000 jobs will go

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By Barbara Kollmeyer

HSBC

Banking giant HSBC PLC /zigman2/quotes/208272822/composite HSBC -2.01% [uk:hsba] is reviving a plan to cut 35,000 jobs, which had been put on hold due to the pandemic, according to a memo sent to staff. Reuters originally reported on Wednesday that Chief Executive Noel Quinn sent a memo to the entire global staff, saying job losses could not be held off "indefinitely," and that it was always a question of "when." A spokesperson from HSBC confirmed the contents of the memo to MarketWatch.

/zigman2/quotes/208272822/composite
US : U.S.: NYSE
$ 26.35
-0.54 -2.01%
Volume: 191,199
Nov. 30, 2020 9:46a
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$110.04 billion
Rev. per Employee
$402,908
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