HSBC to Cut 35,000 Jobs and $100 Billion of Assets

HSBC to Cut 35,000 Jobs and $100 Billion of Assets

LONDON– HSBC Holdings PLC stated it would shed 35,000 jobs and cut business lines and client relationships across the U.S. and Europe, the latest stage in a decade long retreat from worldwide ambitions to focus on its Asian heartland. Established in Hong Kong in 1865, HSBC operates in 64 countries and territories however makes half of its income in Asia.