HONG KONG (MarketWatch)
HSBC Holdings plans to cut 3,000 mainly back-office managerial jobs in Hong Kong over a three-year period, according to a report Wednesday by state broadcaster Radio Television Hong Kong, which cited a staff memo written by HSBC's Asia-Pacific Chief Executive Peter Wong.
Wong said the layoffs were part of cost cutting efforts.
The bank had previously announced it plans to cut about 30,000 jobs globally to help streamline operations.
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