HSBC to cut 400 staff in Taiwan
17-12-2008
HSBC plans to cut about 400 people from its workforce in Taiwan by the end of next month. The redundancies follow HSBC's purchase of a Taiwanese bank in March. The banking giant axed 500 jobs in Asia last month, and dispensed with more than 1,000 people in its global banking and markets division in September. There are reports that HSBC may seek to raise about US$14 billion, to shore up its finances as mounting bad-loan provisions erode profits.
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HSBC plans to cut 400 staff in Taiwan
17-12-2008
HSBC plans to cut about 400 people from its workforce in Taiwan by the end of next month. The downsizing follows HSBC's purchase of a Taiwanese bank in March. The bank cut 500 jobs in Asia last month; and dispensed with more than 1,000 people in its global banking and markets division in September. There are reports that HSBC may seek to raise about 14 billion US dollars, to shore up its finances, as mounting bad-loan provisions erode profits.
