Excerpt from the linked content^1 by Annabelle Liang and Peter Hoskins:
>The London-based firm reported profit before tax of $5.2bn (£4.3bn) for the last three months of 2022, up more than 90% from the same time a year earlier.
>However, pre-tax profit for the year as a whole fell by $1.4bn to $17.5bn, as it absorbs the cost of selling its French retail banking operations.
>HSBC is also in the process of selling its business in Canada.
>The bank said it planned to use the money raised from that sale to make payouts to shareholders once the deal is completed.
>HSBC has also been shedding jobs in recent years to help cut costs.
>
>In November, HSBC said it planned to close 114 more branches in the UK, as customers using them had fallen significantly since the pandemic.
>The bank said it would try to find other jobs for the staff affected but warned that around 100 people would be laid off.
>This followed announcements of other branch closures in 2021 and 2022.
>On Tuesday, Mr Quinn also hinted at more job cuts ahead: “There will be no easing off at all on costs,” he said.
>”We are now considering up to $300m of additional costs for severance in 2023,” he added.
We’re doomed. Or there will be a revolution. One or the other. Probably doomed though.
Rich twats like having even more money they’ll never be able to spend, even at the expense of others?
Someone should probably do something about that or more needless suffering will happen.
Higher interest rates on loans and mortgages while not giving equivalent boosts to savers’ accounts will do that for them.
the other day, when cash-only places were mentioned, a lot of people here lost their minds – as if to say, they actively wanted some of their purchase price to go to a bank.
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Excerpt from the linked content^1 by Annabelle Liang and Peter Hoskins:
>The London-based firm reported profit before tax of $5.2bn (£4.3bn) for the last three months of 2022, up more than 90% from the same time a year earlier.
>However, pre-tax profit for the year as a whole fell by $1.4bn to $17.5bn, as it absorbs the cost of selling its French retail banking operations.
>HSBC is also in the process of selling its business in Canada.
>The bank said it planned to use the money raised from that sale to make payouts to shareholders once the deal is completed.
>HSBC has also been shedding jobs in recent years to help cut costs.
>
>In November, HSBC said it planned to close 114 more branches in the UK, as customers using them had fallen significantly since the pandemic.
>The bank said it would try to find other jobs for the staff affected but warned that around 100 people would be laid off.
>This followed announcements of other branch closures in 2021 and 2022.
>On Tuesday, Mr Quinn also hinted at more job cuts ahead: “There will be no easing off at all on costs,” he said.
>”We are now considering up to $300m of additional costs for severance in 2023,” he added.
^1 Annabelle Liang and Peter Hoskins for the BBC, 21 Feb. 2023, https://www.bbc.com/news/business-64713967
We’re doomed. Or there will be a revolution. One or the other. Probably doomed though.
Rich twats like having even more money they’ll never be able to spend, even at the expense of others?
Someone should probably do something about that or more needless suffering will happen.
Higher interest rates on loans and mortgages while not giving equivalent boosts to savers’ accounts will do that for them.
the other day, when cash-only places were mentioned, a lot of people here lost their minds – as if to say, they actively wanted some of their purchase price to go to a bank.