HSBC Reportedly Plans To Cut Hundreds Of Investment Banking Jobs

(RTTNews) - Asia-focused lender HSBC Holdings Plc (HSBC, HSBA.L) plans to eliminate hundreds of investment banking jobs to cut costs, Bloomberg reported citing people familiar with the matter.

The bank could eliminate at least 500 jobs within global banking and markets, but exact numbers are unknown, the report said.

As part of wider job reductions, the bank expects to begin the elimination at the unit as soon as mid-June and will take place over the year.

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