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HSBC Slashes Staff, Puts More Focus on Asia

One of the world's largest banks, HSBC, is planning to cut up to 50,000 employees, place more focus on Asia, overhaul its global operations, and perhaps move its headquarters out of London. The job cuts affect about 19 percent of the staff over the next two years. Half of those cuts will come from selling operations in Turkey and Brazil, though the bank will maintain a presence in Brazil to service business customers. HSBC's staff in the U.K. also faces thousands of...

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