HSBC (HBC) could reportedly axe up to 5,000 or more jobs as part of the desire of CEO Stuart...

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

HSBC (HBC) could reportedly axe up to 5,000 or more jobs as part of the desire of CEO Stuart Gulliver to lower expenses by another $1B in 2013. The cuts would add to the sharp staff and cost reductions the bank has already implemented in the past couple of years, and are set to be unveiled at an investor day in May. While the bank has slashed its outgoings, it's still far away from meeting its cost-income ratio targets.