Layoffs Watch '15: HSBC Probably Going To Cut 20,000 Jobs

Or it could be a mere 10,000. The details are still being hammered out.

The bank will know the exact figure next week, when it is scheduled to tell people to start shipping out.

HSBC Holdings Plc, Europe’s largest bank, will announce a plan next week to cut thousands of jobs, Sky News reported, citing unidentified people close to the matter. Chief Executive Officer Stuart Gulliver will disclose a target when he updates shareholders on the bank’s strategy on June 9, laying out a reduction that will probably affect 10,000 to 20,000 people, according to Sky. The number is still being worked out, it cited one person as saying. Heidi Ashley, a spokeswoman for HSBC in London, declined to comment on the report.

HSBC Preparing Job Cuts That May Target 20,000 Workers, Sky Says