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150 HSBC Employees in Back Offices Lose Jobs in India
August 24, 2019
As many as 150 employees working in the back offices of HSBC supporting the lender’s global operations have lost their jobs. The decision was taken under the realigning operations of the lender, sources said. Interesting, the layoffs are making headlines after Deutsche Bank also recently started laying off its employees as a part of its exit from the equities business.
HSBC employs around 15,000 individuals in its back offices in India which are called “global capability centers”. The recent layoffs mainly affect the middle management in Hyderabad and Pune.
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