HSBC revives 35,000 job cut plan after coronavirus outbreak
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HSBC is resuming plans to cut around 35,000 jobs which it put on ice after the coronavirus outbreak, as Europe`s biggest bank grapples with the impact on its already falling profits. It will also maintain a freeze on almost all external hiring, Chief Executive Noel Quinn said in a memo sent to HSBC`s 235,000 staff worldwide on Wednesday. HSBC had postponed the job cuts, part of a wider restructuring to cut $4.5 billion in costs, in March.