HSBC expected to axe up to 5,000 more jobs to save US$1b

HSBC may announce further job cuts as part of a strategy to reduce costs. The bank will offer an update on the cost-cutting process during an interim management statement on May 7.

The focus of the cost cutting would be on "non-emerging growth markets", suggesting that the redundancies might take place in North America, a source close to the bank said.

via Business feed http://www.scmp.com/business/banking-finance/article/1194127/hsbc-expected-axe-5000-more-jobs-save-us1b