Last checked at 
* HSBC has axed 50,000 jobs since 2011
* Bank under pressure to revive performance (Adds analyst quote, updated shares, background)
By Matt Scuffham and Lawrence White
LONDON/HONG KONG, June 2 (Reuters) - HSBC Holdings Plc could announce thousands of job cuts at a strategy daynext week, Sky News reported on Monday, part of chief executiveStuart Gulliver's overhaul of Europe's biggest bank.
The plan could also see Gulliver sell operations in Braziland Turkey and take a knife to HSBC's investment bank.
An estimated 10,000 to 20,000 jobs will be axed, Sky Newssaid, citing unidentified sources. The number has not yet beenfinalised and Gulliver will lay out the plans at an investorpresentation on June 9, the broadcaster said. (http://bit.ly/1cu2n87)
HSBC declined to comment on the Sky report.
It was unclear how many of those cuts would come from movesalready announced by the lender.
Gulliver was appointed CEO in 2011 and has axed more than50,000 jobs at the bank as part of a restructuring. However, hehas come under pressure from shareholders to do more to revivethe bank's flagging fortunes.
Jim Antos, analyst at Mizuho Securities Asia, told ReutersTV that more job cuts may not be enough to appease investors.
"The share price has been dead for several years now. Whatthe market is looking for is something pretty substantial like anew strategy, a new theme," he said in an interview with ReutersTV in Hong Kong on Tuesday.
"They've had tens of thousands of job cuts already and it'snot been the answer so far. It's repeating the same pattern,"Antos said.
HSBC's shares were up 0.1 percent in London at 0805 GMT.
MISSED TARGETS
Low interest rates and tougher regulations have hurt HSBCmore than most banks in recent years, meaning Gulliver hasmissed some of his profit and cost targets.
In response, he has sold or exited 77 business units sincehe took the helm. In February, he said businesses in Turkey,Brazil, Mexico and the United States needed to improve, or besold.
HSBC is now looking to sell the Brazil business and Gulliveris expected to confirm on June 9 its loss-making Turkey businessis also on the block. Substantial overhauls to HSBC's U.S. andMexico businesses are also on the cards, banking sources havetold Reuters.
Sky said the job cuts to be announced on June 9 will notinclude the impact of any sale of the bank's Brazil and Turkeybusinesses.
Less certain are Gulliver's plans for global banking andmarkets (GBM), the investment banking division he ran for fouryears before becoming chief executive and which contributes athird of the bank's overall profits.
Several investors and analysts say HSBC has been slower thanrivals to restructure its investment bank and Gulliver needs tocut its rates and credit business. Profits at the GBM divisionfell by $1.1 billion in 2014 from a year earlier amid toughermarket conditions for investment banks.
Gulliver is also expected to provide more details next weekon whether HSBC should move its headquarters from London. If thebank moves it would most likely be to Hong Kong, where it wasbased before moving to London in 1993. (Additional reporting by Tara Joseph in Hong Kong and RishikaSadam in Bengaluru; Editing by Rachel Armstrong and DavidClarke)
