Europe\'s biggest bank HSBC will freeze salaries and hiring new staff in 2016 in an attempt to shrink costs. It is reported Reuters, citing two sources familiar with the matter, speaking on condition of anonymity. According to their information Friday to employees of the financial institution was circulated e-mail that clarifies details about the measures to be taken to spending cuts.

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three-year plan

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Like a number of other global bank HSBC is in the midst of a program to cut costs, which aims to increase the profitability of the institution and returns to its shareholders. The plans in this direction foresee a drop of annual costs by up to 5 bln. Dollars to 2017 .

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In June last year the CEO of the largest bank in Europe Stuart Gulliver presented a three-year plan to curb global expansion and the closure of unprofitable units from operations, which included reduction of nearly 20% of the workforce, recalls Bloomberg. Plans include reducing the number of employees in the UK with 8,000 people to 48 thousand. People and cut 25 thousand. Jobs worldwide. Since then, the bank in the UK has dropped to 45 thousand. People, said BBC. Announced in the summer intent envisages investment banking division to shrink by a third in response to slowing economic growth and tighter global regulations regarding the balance sheets of financial institutions and risks borne by them, writes Reuters.

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\"As stated in the notice to our investors, we have set a goal to achieve significant cost savings by the end of 2017,\" said the agency spokeswoman HSBC, which confirms the content of the popular Friday to employee communication.

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In October salaries of counterparties to investment banking division of the financial institution in London were reduced by 10%, in line with the bank\'s efforts to curb spending, then the story told Reuters familiar theme source.

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Europe\'s biggest bank HSBC will freeze salaries and hiring new staff in 2016 in an attempt to shrink costs. It is reported Reuters, citing two sources familiar with the matter, speaking on condition of anonymity. According to their information Friday to employees of the financial institution was circulated e-mail that clarifies details about the measures to be taken to spending cuts.

\n

three-year plan

\n

Like a number of other global bank HSBC is in the midst of a program to cut costs, which aims to increase the profitability of the institution and returns to its shareholders. The plans in this direction foresee a drop of annual costs by up to 5 bln. Dollars to 2017 .

\n

In June last year the CEO of the largest bank in Europe Stuart Gulliver presented a three-year plan to curb global expansion and the closure of unprofitable units from operations, which included reduction of nearly 20% of the workforce, recalls Bloomberg. Plans include reducing the number of employees in the UK with 8,000 people to 48 thousand. People and cut 25 thousand. Jobs worldwide. Since then, the bank in the UK has dropped to 45 thousand. People, said BBC. Announced in the summer intent envisages investment banking division to shrink by a third in response to slowing economic growth and tighter global regulations regarding the balance sheets of financial institutions and risks borne by them, writes Reuters.

\n

\"As stated in the notice to our investors, we have set a goal to achieve significant cost savings by the end of 2017,\" said the agency spokeswoman HSBC, which confirms the content of the popular Friday to employee communication.

\n

In October salaries of counterparties to investment banking division of the financial institution in London were reduced by 10%, in line with the bank\'s efforts to curb spending, then the story told Reuters familiar theme source.