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Retail News Asia 03/29/2020 19:05
read the original version on: Less than two weeks after being named the permanent chief executive, Noel Quinn’s path to executing the group strategy is already being derailed. The ongoing pandemic that will cause the bank to delay its 35,000 job cuts as part of a broader overhaul to reduce annual cost by $4.5 billion. Because of the extraordinary impact […]. .
HSBC plans to delay thousands of job cuts planned as part of a massive restructuring announced in February because of the "extraordinary impact" of the coronavirus pandemic that has probably sent the global economy into a recession, according to an internal announcement.The bank, one of three lenders authorised to issue currency in Hong Kong, told staff on Thursday it would "pause, for the time being, the vast majority of redundancies" that would have seen as many as 35,000 jobs being...


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