HSBC’s Gulliver in Push to Cut Costs
Europe’s largest bank HSBC Holdings Plc plans to reduce full-time employees by 22,000 to 25,000. Chief Executive Officer Stuart Gulliver seeks to cut annual costs by about $5 billion to restore profit growth. A further 25,000 positions will be cut through the sale of its Turkey and Brazil operations.
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Infosys CEO Resigns After Criticism From Founders
23:57 - Infosys Ltd. Chief Executive Officer Vishal Sikka has stepped down following criticism from the company’s founder. Chief Operating Officer Pravin Rao will become interim CEO. Bloomberg's Caroline Hyde reports on "Bloomberg Technology." (Source: Bloomberg)