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HSBC is reportedly planning to axe 10,000 jobs amid a brutal year for global bank workers

“HSBC is joining the list of banks this year cutting thousands of jobs as it has plans to axe 10,000 people from the bank, according to the Financial Times” writes Yusuf Khan for businessinsider.com. So far this year, Deutsche Bank, Barclays, and Citigroup are among banks that have reportedly shed a total of over 60,000 roles.Flint was let go in part because he shied away from cutting jobs, as the bank faced mounting Brexit and trade war woes, the FT wrote.The bank faces “an increasingly complex and challenging global environment” amid Brexit, low-interest rates, and trade disputes, the FT said.The newspaper said that most of the jobs being cut will likely be taken from those in higher-paid roles.
 
Source: businessinsider.com



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