HSBC Holdings: Plans To Lay Off 3000 People In Hongkong In The Next Three Years

2011/9/9 14:07:00 32

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HSBC Holdings Plans To Lay Off Workers In The Future

According to HSBC Holdings staff, some employees received internal letters from the company yesterday afternoon, saying that HSBC's business in Hongkong has a simplified framework. The company will focus on restructuring its logistics structure and reducing its management rank to enhance its business.

efficiency

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Although HSBC did not determine the number of job cuts in the initial adjustment stage, the company indicated that it planned to cut 3000 jobs in the next three years, accounting for 13% of the total number of employees in HSBC in Hongkong.

Wang Dongsheng, chief executive of HSBC Asia Pacific, said in his letter that the Asia Pacific region is the driving force behind the growth of the company's business, while the operating efficiency of Hongkong's business is higher than that of the group.

benefit

The ratio is 57.5%, which has not yet reached the planned 48%-52% target.

HSBC's Hongkong business now employs about 23 thousand people. Despite the layoffs, the region contributed 1/3 of its pre tax profit in the first half of the year.

He revealed that

HSBC

The first 5 markets to simplify the structure include Hongkong, Brazil, Canada, Mexico and the United States.

Hongkong's layoffs are the first wave of the group's global layoffs.

Wang Dongsheng said that the company would try to help affected employees through pfer and guidance.

As for HSBC's plans to cut 3000 jobs in Hong Kong, vice chairman and chief executive officer of Hang Seng Bank, a "one family", declined to comment on the incident. However, she stressed that hang seng bank had no layoffs for the time being.

HSBC Holdings confirmed yesterday that it may sell its retail broking business in Canada. Negotiations are continuing and the decision has not yet been made.