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HSBC set to axe thousands in strategy overhaul

Investment bank to bear the brunt - a move seen as more politically acceptable

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HSBC Holdings Plc is preparing to cut thousands of jobs as part of a revamp to be announced by chief executive officer Stuart Gulliver next week, according to a person with knowledge of the matter.

London

HSBC Holdings Plc is preparing to cut thousands of jobs as part of a revamp to be announced by chief executive officer Stuart Gulliver next week, according to a person with knowledge of the matter.

The lender is under pressure to reduce costs and reverse a decline in profit