The Traderszone Network

Published in TZ Latest News 9 June, 2015 by The TZ Newswire Staff

HSBC to shed 50,000 jobs in quest for higher payouts

HONG KONG/LONDON (Reuters) – HSBC pledged a new era of higher dividends on Tuesday, laying out plans to slash nearly one in five jobs and shrink its investment bank by a third to combat sluggish growth across its sprawling empire. Chief Executive Stuart Gulliver has made it his mission to boost profits since taking the helm of Europe’s largest bank by assets in 2011 but his efforts have so far been foiled by high compliance costs, fines and low interest rates.

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