International banking giant HSBC confirmed on Monday it would cut a further 25,000 jobs between now and 2013 as part of a broader cost-cutting drive.
“There will be further job cuts,” said Chief Executive Stuart Gulliver. “Another 25,000 roles will be eliminated in addition to the 5,000 already announced.”
It is not confirmed yet if the jobs’ elimination will affect Dubai, Abu Dhabi and other emirates branches of HSBC.
