Better returns: A file picture showing customers using ATMs at an HSBC branch in Hong Kong. The bank is questioning why it has so many people in Europe when Asia gives better returns — Bloomberg.
NEW YORK: HSBC Holdings Plc may eliminate as many as 10,000 jobs as part of a cost-cutting drive, according to a Financial Times report that signaled Europe may bear the brunt of the initiative.
The bank, one of several European lenders shrinking its workforce, is questioning why it has so many people in the region when it has double-digit returns in parts of Asia, one person briefed on the matter told the newspaper.
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