Tuesday 7 April 2020
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scmp - 11 days ago

HSBC to hit ‘pause’ on its retrenchment plan and will free hiring as coronavirus pandemic shows no sign of slowing

HSBC plans to delay thousands of job cuts planned as part of a massive restructuring announced in February because of the “extraordinary impact” of the coronavirus pandemic that has probably sent the global economy into a recession, according to an internal announcement.The bank, one of three lenders authorised to issue currency in Hong Kong, told staff on Thursday it would “pause, for the time being, the vast majority of redundancies” that would have seen as many as 35,000 jobs being…

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