HSBC IS REPORTEDLY PLANNING TO AXE 10,000 JOBS AMID A BRUTAL YEAR FOR GLOBAL BANK WORKERS

• HSBC is planning to cut 10,000 jobs as it embarks on a major cost-cutting effort, the Financial Times says.
• The Financial Times broke the story on Sunday, saying that the new interim CEO of the bank, Noel Quinn, is looking to make his mark. 
• "We've known for years that we need to do something about our cost base, the largest component of which is people — now we are finally grasping the nettle," one unnamed person at the bank told the newspaper. 
• The paper reported that most of the jobs being cut will be at the higher levels of the bank. 

HSBC is joining the list of banks this year cutting thousands of jobs as it has plans to axe 10,000 people from the bank, according to the Financial Times.

Two sources who had been briefed on the bank's plans told the Financial Times that the headcount at the bank would be reduced to 238,000 globally.

It's been a brutal year for bank employees. So far this year, Deutsche Bank, Barclays, and Citigroup are among banks that have reportedly shed a total of over 60,000 roles.

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