Big Banks, Big Troubles: HSBC, Deutsche, Societe, and Citi Lay Off Thousands Worldwide

Posted on August 9, 2019 12:56 am
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URL https://www.activistpost.com/2019/08/big-banks-big-troubles-hsbc-deutsche-societe-and-citi-lay-off-thousands-worldwide.html 

By Lubomir Tassev

Banking giants are in trouble and it’s starting to show. Key players in the industry have already announced massive job cuts and executives with hefty salaries have been dismissed. HSBC, the largest bank in Europe, has revealed it plans to lay off over 4,000 employees and Citigroup is preparing to shrink its trading staff slashing hundreds of jobs. They are joining other global brands in a wave of layoffs hitting the unstable banking sector.

Also read: More Signs the Next Big Financial Crisis Begins in Germany

HSBC Confirms up to 4,700 Layoffs

London-based HSBC, which is the

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