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Pin to quick picksHSBC Holdings Share News (HSBA)

Share Price Information for HSBC Holdings (HSBA)

London Stock Exchange
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Share Price: 697.50
Bid: 668.00
Ask: 707.00
Change: 0.00 (0.00%)
Spread: 39.00 (5.838%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 697.50
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Managers for the chop as HSBC swings axe

Thu, 26th Apr 2012 13:00

Global banking giant HSBC has confirmed it is to slash its UK workforce by more than 2,200, with senior and middle management bearing the brunt of the wave of redundancies.The bank employs more than 52,000 workers in the UK, of which around 40,000 work in HSBC branches, and is looking to "eliminate unnecessary bureaucracy". "These changes will enhance our efficiency as detailed in the strategy we announced last May and they will also help ensure our continued profitability in the face of the changing regulatory landscape," said Brian Robertson, the Chief Executive of HSBC Bank.On the subject of profitability, Credit Suisse predicts HSBC will announce profit before tax of $5,214m when it releases its interim management statement on May 8th.Perhaps with that level of profitability in mind, David Fleming, national officer at the Unite, union claimed "there is no justification for this awful treatment of staff."HSBC said around a quarter of the proposed staff changes are in anticipation of the likely impact on business levels caused by the Retail Distribution Review, which will prevent UK banks can no longer offer financial advice for free.The group's Chief Executive, Stuart Gulliver, announced in August of last year job cuts worldwide would go a lot deeper than previously indicated, with 30,000 HSBC workers across the globe set for the dole queue."The hypocrisy of Stuart Gulliver taking home £8m, while claiming the bank must cut thousands of staff in order to save money, will not be lost on the workforce," suggested Fleming. Joe Garner, head of HSBC's UK Bank, said the bank had done its utmost "to keep the number of people who will be leaving the bank to a minimum." JH
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IN BRIEF: RBC targets completion of HSBC Canada buy in late March

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16 Jan 2024 09:14

LONDON BROKER RATINGS: UBS raises GSK and cuts AstraZeneca

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning:

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15 Jan 2024 17:06

UK's FTSE 100 slips as luxury, bank stocks weigh

FTSE 100 down 0.4%, FTSE 250 flat

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15 Jan 2024 17:00

European shares start week on shaky footing as bond yields rise

Commerzbank gains after merger talks with Deutsche Bank

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15 Jan 2024 16:57

LONDON MARKET CLOSE: Sluggish stocks slip back in absence of US spur

(Alliance News) - Stocks in London were marked lower on Monday with the lack of direction from Wall Street, with US markets closed, adding to the subdued mood.

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15 Jan 2024 12:04

LONDON MARKET MIDDAY: Stocks head lower in quiet trade amid US holiday

(Alliance News) - Stock prices in London were lower at midday Monday, with trading likely to remain subdued due to a public holiday in the US.

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15 Jan 2024 09:11

LONDON BROKER RATINGS: Exane BNP cuts HSBC; Peel Hunt raises Hammerson

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:

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11 Jan 2024 22:04

First Citizens must 'clean up' claims that HSBC poached Silicon Valley Bank workers

Judge says bank must flesh out claims against ex-SVB employees

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11 Jan 2024 20:28

First Citizens must 'clean up' claims that HSBC poached Silicon Valley Bank workers

Judge says bank must flesh out claims against ex-SVB employees

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11 Jan 2024 17:03

M&S shares, Wall Street sell-off drag FTSE lower

U.S. inflation data sparks selloff

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11 Jan 2024 10:59

UK plans new system to tackle small bank failures after SVB collapse

LONDON, Jan 11 (Reuters) - Britain's finance ministry plans to introduce new procedures to manage the failure of small banks more effectively, it said on Thursday, following last year's high-profile collapse of U.S.-based Silicon Valley Bank (SVB).

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11 Jan 2024 09:26

TOP NEWS: Big Yellow rent hike saves revenue from decreased occupancy

(Alliance News) - Big Yellow Group PLC on Thursday said that revenue and lettable area had increased despite occupancy dropping during the "seasonally weaker third quarter".

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8 Jan 2024 09:49

Saudi Arabia plans benchmark-sized three-tranche bond

DUBAI, Jan 8 (Reuters) - Saudi Arabia plans to tap global debt markets on Monday with the sale of a triple-tranche bond with tenors of six, 10 and 30 years, IFR, a capital markets publication, reported.

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8 Jan 2024 09:24

LONDON BROKER RATINGS: Barclays cuts Berkley and Barratt, ups Bellway

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

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8 Jan 2024 07:16

UAE's FAB gives price guidance for its 5-yr sukuk

Jan 8 (Reuters) - The United Arab Emirates' largest lender, First Abu Dhabi Bank, has given price guidance of around 100 basis points over U.S. Treasuries for its dollar-denominated Islamic bonds, according to a document seen by Reuters on Monday.

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