"HSBC" London to lay off 10,000 employees to reduce costs.

HSBC UK Bank in the heart of London (Photo by: Tolga Akmen / AFP)

HSBC plans to lay off as many as 10,000 positions in order to reduce costs. Accounting for more than 4 percent of the total number of existing employees, more than 237, 000 people of the bank

Financial Times Newspaper Reported on October 6, 2019 that the headquarters of HSBC Holding PLC (HSBC Holdings Plc.), Based in London. Plan for layoffs of up to 10,000 positions to reduce cost burden The layoffs accounted for more than 4 percent of the bank's enormous number of employees.

HSBC's mid-year 2019 report states that at the end of the month This past June HSBC Group employs more than 237,000 people.

This layoffs occurred 1 month after John Flint HSBC Chief Executive Officer Stepped down from the midst of unexpected months Aug ago Due to HSBC There is an opinion that it should be changed since high level To cope with a more complex and challenging global environment

The report states that The latest layoffs are part of the cost reduction plan. That is supported by Noelle Quinn Acting Chief Executive Officer of HSBC Who was acting in the position of Flint Until the company assigns a new person After HSBC encountered problems in dealing with the global economic instability, such as Brexit, the trade dispute. And the reduced interest rate

However, in the past August. HSBC announced that the company made more profits in the first half of 2019, with pre-tax profits growing 15.8 percent to $ 24.2 billion (about 3.77 billion baht) and expenses in However, HSBC expressed concern over the future of 2020 in which the world will face enormous challenges.

In addition, HSBC said in the August report that the company will reduce about 4,000 employees, especially at the executive level.