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HSBC Cuts Over 50 Jobs in Investment Banking Division

  • Cull in global banking and markets unit to begin this week
  • Reductions not focused on any particular business, source says
Photographer: Anthony Kwan/Bloomberg

HSBC Holdings Plc will start eliminating at least 50 jobs in its global banking and market unit this week as part of an annual performance review of its staff, a person familiar with the matter said.

The affected employees from across HSBC’s investment banking division will lose their jobs in the coming weeks, the person said, asking not to be identified as the details are private. The person said the cutbacks were not focused on any particular business or location.