. GPS News .




.
POLITICAL ECONOMY
HSBC says to cut 3,167 jobs in Britain
by Staff Writers
London (AFP) April 26, 2012


HSBC on Thursday said it would cut 3,167 jobs as part of previously announced plans to reduce the bank's global workforce by 30,000 over two years to 2013.

The London-headquartered bank added that due to the creation of 950 positions, the net loss for British jobs would total 2,217.

"HSBC is today announcing a restructure of its business in the UK which means that 2,217 people will be leaving the UK Bank during the coming months," Europe's biggest bank said in a statement.

"The reduction of 3,167 roles in the UK follows the group's announcement last year that by the end of 2013, there would be around 30,000 fewer roles within the bank worldwide."

HSBC is looking to save up to $3.5 billion (2.65 billion euros) by next year under its vast cost-cutting programme.

The bank added on Thursday that the majority of posts being lost in Britain were in areas of senior or middle management, while none of its 1,250 British branches would shut as a result of the move.

Founded in Hong Kong and Shanghai in 1865, HSBC recently reported soaring annual net profits as growth in Asia and other emerging markets offset eurozone debt losses and costs linked to the bank's exit from the United States.

Profit after tax jumped 28 percent to $16.8 billion in 2011 compared with the previous year.

Related Links
The Economy




.
.
Get Our Free Newsletters Via Email
...
Buy Advertising Editorial Enquiries






.

. Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle



POLITICAL ECONOMY
Commentary: Global house of cards
Washington (UPI) Apr 25, 2012
Rumor has it that a new Broadway musical on Washington will soon be in production. It draws on "Jersey Shore" and "The Best Little Whorehouse in Texas," which was based on the real, live "Chicken Ranch in La Grange, Texas." Real, live material has been cascading for weeks. From elite, take-a-bullet-for-the-president Secret Service agents catnapping in a Cartagena, Colombia, five-star ho ... read more


POLITICAL ECONOMY
Hong Kong suspends poultry imports from China province

New South Asia network to tackle 'massive' climate adaptation challenge

Potato consumption lower than expected

World's first handmade cloned transgenic sheep born in China

POLITICAL ECONOMY
With new design, bulk semiconductor proves it can take the heat

Electron politics: Physicists probe organization at the quantum level

X-rays reveal molecular arrangements for better printable electronics

DNA origami puts a smart lid on solid-state nanopore sensors

POLITICAL ECONOMY
JAL could go public again in July 2012: report

All Nippon Airways boosts profit, sales forecast

Slovenian adventurer ends eco-friendly trip around the world

Boeing Celebrates 4,000th Next-Generation 737

POLITICAL ECONOMY
Japan's Mitsubishi Motors posts 53% profit rise

SUV makers flock to China as sales boom

Technology can help older drivers

China city eyes cars to drive its economic future

POLITICAL ECONOMY
Ahead of talks, US urges financial reform in China

Asia's promise lures French from eurozone woes

US presses China to open to foreign investment

China and Poland pledge to double trade

POLITICAL ECONOMY
Palms reveal the significance of climate change for tropical biodiversity

Rousseff pressed to veto Brazil forestry law

Anti-logging activist shot dead in Cambodian forest

Brazil to boost military presence to protect Amazon wealth

POLITICAL ECONOMY
Google blasts FCC handling of 'Street View' probe

Latest CryoSat result revealed

CarbonSat - On the trail of greenhouse gases

DigitalGlobe Unveils New Details of WorldView-3 Satellite

POLITICAL ECONOMY
First Atomic-Scale Real-Time Movies of Platinum Nanocrystal Growth in Liquids

Nanodot-based memory sets new world speed record

Nanocrystal-coated fibers might reduce wasted energy

High-res atomic imaging of specimens in liquid by TEM using graphene liquid cell


Memory Foam Mattress Review

Newsletters :: SpaceDaily Express :: SpaceWar Express :: TerraDaily Express :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

.

The content herein, unless otherwise known to be public domain, are Copyright 1995-2012 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement