HSBC CEO Noel Quinn said the redundancies would now be put on hold due to the exceptional circumstances. The firm does not want to leave staff unable to find work elsewhere during the coronavirus pandemic LONDON : British multinational investment bank, HSBC announced on Tuesday that it has paused plans to cut 35,000 jobs, saying it does not want to leave staff unable to find work elsewhere during the coronavirus pandemic.
In February, HSBC said it planned to scale back its headcount from 235,000 to about 200,000 over the next three years, the BBC reported.
The move is part of a restructuring programme which aimed to achieve $4.5bn (£3.6bn) of cost cuts by 2022. But in the latest announcement, CEO Noel Quinn said the "the vast majority" of
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