So HSBC is cutting 30,000 jobs over the next years till 2013.
First of all it was expected as 10,000.
It appears that they want to give jobs to the cheaper labour countries in Asia, most have no banking background.
Announcing better than expected first-half pre-tax profits of $11.5bn (£7bn), $600m more than City analysts had expected,
HSBC said it had already cut 5,000 jobs and would be making a further 25,000 “role reductions” within the next two and a half years.
What people don't realize is that the move out of the UK is mainly 2 things:
1. UK tax
2. China is a bigger force than the USA and having left HongKong it may be that the chinese are wooing them back.
So I think that you can expect many more jobs to go.
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8674512/HSBC-to-cut-30000-jobs-in-Asia-push-as-profit-jump.html
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