Playing with fire—HSBC fires you and hires your neighbour
Though HSBC’s strategy of trimming the fat, or should we say relocating the fat, will be a welcome move for shareholders, how will it impact the economy?
August 4, 2011 3:15 by Eva Fernandes
…hiring up to 4,000 people a year in emerging markets.
Now obviously the rather drastic attempts to trim the fat is one that shareholders will undoubtedly be glad for; yet the repercussions the redundancies will have on the US and Europe existing unemployment problems are yet to be fully comprehended. Don’t ask Kipp, our head is still reeling from discussions surrounding raising the debt ceiling and the onset of a potential recession in 2012. Can the West stomach a hacking of 30,000 jobs?
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1 Comment
Measly 5% in US….. It would certainly help if they actually invested in the profitable parts of that business.