LONDON (Reuters) - HSBC is cutting more than 2,200 jobs in Britain as part of its drive to slash costs and boost profitability in the face of a changing banking landscape. Unite union said 3,167 roles would be impacted by the cuts, but HSBC said almost 1,000 staff would be redeployed or other positions would be created elsewhere, and the net job loss would be 2,217. Further details will be released later on Thursday. ...
HSBC is cutting more than 2,200 jobs in Britain as part of its drive to slash costs and boost profitability in the face of a changing banking landscape. Unite union said 3,167 roles would be impacted by ...
Under pressure from an activist shareholder, Cliffs Natural Resources Inc said on Tuesday it will slash capital spending, forgo a planned expansion at a key Canadian mine and shut another mine in Canada, cutting about 500 jobs.
Cliffs, a Cleveland-headquartered iron ore and coal producer, said it plans to reduce its capital spending in 2014 by more than 50% to between $375 million and $425 million as it cuts back its Bloom Lake Mine expansion and idles production at its Wabush Mine.
Reuters - HSBC Holdings will run down its $33 billion U.S. credit card business if it cannot find a buyer, the bank's chief executive said on Monday, part of efforts to slash costs and cut back on retail banking.
Director of Smart Currency Business, Carl Hasty, says: “Traditionally, Europe has been the UK’s most important trade partner and the first port of call for most UK firms looking to expand abroad. Increasingly, however, businesses are looking beyond the Eurozone to higher growth markets elsewhere in the world. So much so, the Eurozone is now the destination of less than half of all British exports.”
HONG KONG/LONDON (Reuters) - HSBC Holdings Plc , Europe's biggest bank, is looking to slash up to $3.5 billion in costs by cutting the scale of its wealth management and retail banking businesses, it said on Wednesday.