HSBC Layoffs Job Cut: fires 100 HongKong employees: Finance Trading Times

HSBC Layoffs Job Cut: fires 100 HongKong employees

The news is from HSBC, which is the major asset management company, is reported to be going for layoffs. In March, we had reported about the HSBC Layoffs Job Cuts UK, before that there was some news about Firing of HSBC employees in India and today, the news has come from HSBC Hong Kong. The news is not good for the employees of the HSBC as the organization is going for job cuts. Now the situation is getting worse for the employees as the recession is taking a toll on all sectors and all of the sectors are feeling the heat. HSBC Logo
How many employees may be fired in the HSBC layoffs?
As per the reports, there are going to be 100 job cuts by HSBC. That is around 12% of the total employee strength HSBC has in Hong Kong.

What is the total no. of employees of HSBC?
The total no. of employees of HSBC is 1200 in Hong Kong before the layoffs.

What will be the cost and savings by HSBC layoffs?
No info about that.

When will the HSBC layoffs happen?
The layoffs are learnt to be already done on 21st April 2009.

Which locations and department of employees will be affected by the HSBC layoffs ?
The layoffs are being done in the private-banking division in Hong Kong.

What is the primary reasons for HSBC layoffs?
It's all about the worsening market situation, economy, declining sales and no clear site of future revival.

Any other news about HSBC layoffs
As per MarketWatch, The layoffs were the latest for HSBC, which has cut staff in the U.K., and has trimmed staff previously in Hong Kong, including several hundred cuts first reported in November of last year.
Let's hope that alternative jobs are available to the affected employees of HSBC Layoffs Job Cut
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