Hongkong and Shanghai Banking Corporation (HSBC) to Impose Cuts in Staff

Following the strong commercial banking, investment banking and global markets in India, to benefit Hong Kong and Shanghai Banking Corporation (HSBC) has increased from 33% to U.S. $ 451 million. It was reported that India is the destination of most profitable banking sectors in the Asia-Pacific.

It is not the first time that HSBC has reported a profit in India. Only last year the profit has grown in the country of RS 1528 crore from RS 810 crore a year earlier. Stuart Davis, CEO of HSBC India said, "continued the positive macroeconomic outlook for India, and HSBC's global economic status and connections, we focus on the rate of sustainable growth, because India is an increasingly important in cementing the leadership of HSBC in Asia. "

Although the bank has booked a profit of 33%, which is always willing to cut some 30,000 jobs worldwide. It has come to light that the staff cuts imposed in the country where the bank is struggling to survive.

Previously, the bank set to cut 5,000 jobs. It also reduces some 25,000 jobs. In addition, it emerged that the bank intends to sell the branches of the United States before the Niagara Financial about $ 1 billion in cash. In addition, the other is closing 13 branches.