HSBC’s 2016 net profit fell 82 per cent from last year, in what the bank calls a period best remembered for its “largely unexpected economic and political events.” Like other global lenders, HSBC is slashing staff to cut costs. Photo: AFP

HSBC lays off 120 technology staff in Hong Kong in cost-cutting plan

The retrenched staff, many of whom have worked for the bank for over a decade, were given three months’ salary as compensation.

Topic |   HSBC

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HSBC’s 2016 net profit fell 82 per cent from last year, in what the bank calls a period best remembered for its “largely unexpected economic and political events.” Like other global lenders, HSBC is slashing staff to cut costs. Photo: AFP
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