HSBC to Cut 3,000 Jobs in Hong Kong

HSBC to Cut 3,000 Jobs in Hong Kong:

HONG KONG (TheStreet) -- HSBC plans to cut 3,000 jobs in Hong Kong over the next three years as part of the bank's global restructuring.

The bank employs about 23,000 people in Hong Kong and 296,000 worldwide.

The job cuts in Hong Kong are part of the first wave of a global reorganization, which also will include restructuring of operations in the U.S., Canada, Mexico and Brazil, a spokeswoman told The Associated Press.
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