HSBC in plans to cut 30,000 jobs

HSBC Holdings Plc Latest from The Business Journals First Niagara to buy 195 HSBC branchesCB Richard Ellis gets HSBC global dealAfter HSBC, Keating heads to Dopkins Follow this company  said Monday it plans to cut about 10 percent of its workforce, or about 30,000 jobs worldwide by the end of 2013.

Businessweek reported the London-based global bank, which has about 20 employees in Houston, wants to cut costs by about $3.5 billion.

The bank did not say in what bank branches it would cut jobs, but that it agreed over the weekend to sell its upstate New York branch network, including about 195 branches, to First Niagara Financial Group   First Niagara Financial Group Latest from The Business Journals First Niagara to buy 195 HSBC branchesFirst Niagara to buy HSBC upstate bank branchesHSBC mum on job-cutting report Follow this company  for $1 billion. HSBC will still control commercial banking operations in the area, the company said in a press release.

Houston Business Journal