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Anonymous ID: 3a136d June 17, 2020, 6:18 a.m. No.9643359   🗄️.is đź”—kun   >>3612 >>3765

SAM868 USAF G5 departed MacDill AFB, TAMPS and on ground at Eglin AFB

 

R01052 US Army C-560 departed State College, PA-University Park Airport s and lining up at JBA

VV700 US Navy G5 nw from JBA

VM374 USMC C-560 ne from JBA

 

DDFI5899 USMC C-560 departing New Orleans JRBNAS nw

Anonymous ID: 3a136d June 17, 2020, 6:28 a.m. No.9643435   🗄️.is đź”—kun   >>3612 >>3765

HSBC Restarts Plan to Cut 35,000 Jobs to Boost Profit Growth

 

HSBC Holdings Plc has resumed a plan to cut 35,000 jobs that was put on hold by the coronavirus outbreak as it seeks to boost its profitability amid an under-performance in several key markets. HSBC has appeased investors with $3.5 billion of share buybacks, but after five years of declining revenue analysts are looking for evidence the bank is stabilizing its top line when it reports earnings Thursday. HSBC has appeased investors with $3.5 billion of share buybacks, but after five years of declining revenue analysts are looking for evidence the bank is stabilizing its top line when it reports earnings Thursday.

 

The plan was put on hold in March this year as the virus that emerged in China spread globally, also denting the lender’s plans to pivot its business further to Asia, where it makes the bulk of its revenue. HSBC joins other banks such as Deutsche Bank AG in resuming jobs cuts that were put on hold. “Since February we have pressed forward with some aspects of our transformation program, but we now need to look to the long term and move ahead with others, including reducing our costs,” Chief Executive Officer Noel Quinn said in a memo obtained by Bloomberg. It was confirmed by a bank spokeswoman.

 

“Against this backdrop, I’m writing to let you know we now need to lift the pause on job losses,” Quinn said. “I know that this will not be welcome news and that it will create understandable concern and uncertainty, but I want to be open with you about the reality of the current situation.”

 

Quinn in February unveiled the restructuring that involved cutting the sprawling global lender’s 235,000-strong workforce by about 35,000 over the next three years. The lender is targeting cost reductions of $4.5 billion at under-performing units in the U.S. and Europe in the plan. At the same time, it plans to accelerate investments in Asia.

https://www.bloomberg.com/news/articles/2020-06-17/hsbc-restarts-plan-to-cut-35-000-jobs-to-boost-profit-growth