HSBC may lay-off 10,000 employees for cost-cutting: Report

As many as 10,000 employees may be laid off in HSBC Holdings Plc as a part of the cost-reduction drive, a report in the Financial Times said. The report said that the company’s interim Chief Executive Officer Noel Quinn is seeking cost-cutting across the banking group. The HSBC will be reporting its third-quarter results later this month. The report says it may make the announcement at the same time. The report further said that the lay-offs will mainly be from the high-paid roles in the company. #HSBC #NoelQuinn #JobLoss

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