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HSBC to freeze pay, hiring in 2016 amid US$5b cost cuts

Under its 3-year plan, the lender plans to reduce its full-time employees by about 10%

Published Mon, Feb 1, 2016 · 09:50 PM

Hong Kong

HSBC Holdings Plc will impose a hiring and pay freeze this year as part of its drive to cut as much as US$5 billion in costs by the end of 2017.

The actions were outlined in a memorandum received by empl…

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