HSBC to cut 35,000 jobs as profits fall by a third

HSBC to cut 35,000 jobs as profits fall by a third

HSBC has announced it will axe 35,000 jobs worldwide as part of a restructuring after the bank’s profits fell by 33% last year, lagging analyst estimates, mainly due to a goodwill impairment of $7.3B related to its investment banking and commercial banking businesses in Europe. HSBC reported profit of $13.35B for 2019 versus $19.89B a year earlier

Chris
Chris
mantico
mantico 1 months

I wonder what the bonuses/raises of The executives and the increase in dividends will be to The shareholders 🤔

Grand Ol Propaganda
Grand Ol Propaganda 1 months

How are those trickles doing?? 🤣🤣🤣

MachoMaam
MachoMaam 1 months

Goodwill is such a fucking bullshit asset inflation scheme. Fake assets crashing is the cause of firing 35000 people. Welcome to clown world people. Anything paid over the top of the value of assets of a business in acquisition should be expensed over the course of the next few years. Goodwill is a shoddy imprudent accounting practice.

little
little 1 months

can't they simply launder more money??

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