Cash And Trade Magazine For Cash and Trade professionals in the Middle East
HSBC plans to lay off up to three per cent of its 12,000-strong workforce in the Middle East and north africa as it seeks to cut costs to improve its competitiveness.
“As part of a standard operational review of the business to ensure our competitiveness, we have identified an opportunity to improve efficiency through a small reduction of headcount,” it said in an emailed statement to Zawya dow Jones in response to questions. The layoff s will mostly take place in the bank’s corporate and retail arms.
