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Business Briefing / BANKING

HSBC Holdings cuts 1,100 jobs

September 27, 2008|From Times Wire Services

HSBC Holdings, Europe's largest bank by market value, cut 1,100 jobs, or about 4% of its global banking and markets workforce, as the deepening financial crisis threatens to extend a decline in profit.

HSBC is adding to about 120,000 financial jobs lost worldwide since the global credit crisis began just over a year ago.

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