BUZZ-HSBC HK shares fall on report of major layoffs
Reuters
Mar 19
BUZZ-<a href="https://laohu8.com/S/HSBC">HSBC</a> HK shares fall on report of major layoffs
** HK shares of HSBC Holdings 0005.HK fall 3% to HK$124.1; set for biggest one-day pct decline since March 13
** Stock falls to lowest since March 16; third-biggest pct loser on Hang Seng Finance Index .HSNF, which is down 1.1%
** HSBC HSBA.L is weighing deep job cuts over coming years that could ultimately impact ~20,000 roles, or ~10% of its total workforce, Bloomberg News reports, citing people familiar with the matter
** HSBC did not immediately respond to Reuters' request for comment
** YTD, HK stock up 2.3%
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))
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