HSBC (HBC) may announce more job cuts this week as CEO Stuart Gulliver is set to unveil further...

|About: HSBC Holdings PLC (HSBC)|By:, SA News Editor

HSBC (HBC) may announce more job cuts this week as CEO Stuart Gulliver is set to unveil further measures to enhance efficiency at the bank, where the workforce has already been reduced by some 66,000. HBC could do away with up to 20 more businesses on top of the nine segments already dispensed in order to keep costs down and eliminate redundancies at an operation some say is "notorious" for its "levels of bureaucracy." An announcement could come as early as Wednesday, MarketWatch says, citing The Independent.