Monday, February 09, 2009

HSBC cuts again

HSBC Holdings Plc plans to cut a further 1,000 jobs in Hong Kong this week as the bank seeks to lower costs, Oriental Daily News reported yesterday, citing employees it didn't identify.

The job cuts, which follow the loss of 550 positions in the city last year, will focus on HSBC's mortgage and loan operations, the Hong Kong-based newspaper said.

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