HSBC plans to cut 35,000 jobs as profit drops 33% | Crypto Craft

  • HSBC plans to cut 35,000 jobs as profit drops 33%

    From cnn.com

    HSBC on Tuesday said it would cut around 35,000 jobs and dramatically overhaul its business after its profit plunged by a third in 2019. The bank plans to reduce its global headcount by roughly 15% to 200,000 over the next three years, a company spokesperson said, although the precise figures have not been finalized. HSBC will also ditch $100 billion in assets, shrink its investment bank and close a third of its US branches as it shifts resources to the Middle East and Asia, where it already makes most of its profits. The changes are expected to cost $7.2 billion by 2022. "This represents one of the deepest ... (full story)

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Not-KPMG
Feb 19, 2020 6:45am
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Quoting JustBreathe
{quote} Bitcoin has to be stable for it to be used as currency. Imagine your current counties currency moving that much lol.
Hi
Bitcoin has two uses pal.
One is asset.

One is money.
I have no problem transacting in Bitcoin - my exchange is one click away. We pay 0.1% commission. Convert to dollars or Tether.



VISA crooks take 3%. Banks disappear....
LOL

BUT Discussion in our thread!!
Reply
Not-KPMG
Feb 18, 2020 3:08pm
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35000 unemployed???
And unlikely to ever find job??

You know what i feel??

A. Bankers thieves will blame bitcoin
B. Banksters will blame me!!!
C. Bitcoin is dead, liars will say.
Reply
Not-KPMG
Feb 18, 2020 3:09pm
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Speaking of liars :
Link
Quoting Not-KPMG
In pictures below
You'll all see the future and the past

Results? So far Bitcoin 10000 crybabies 0. {image} {image}
If you follow the link it'll take you to Bitcoin-explained land

Welcome!
Reply
Not-KPMG
Feb 18, 2020 3:15pm
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Quoting g0ds0n
... Gold and silver will become real currency again.
LOL

Haven't heard something sillier today

How yo gonna buy a loaf of bread???
That Maple Leaf that today/tomorrow cost what... 35 bucks silver, 2300 bucks gold...?

How yo gonna buy a loaf of bread???

How yo gonna buy a loaf of bread???

Ohhhh wait. I'll use Bitcoin
Link above.
Reply
Banditten
Feb 18, 2020 1:46pm
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Having recently moved to the UK I will say that the mainstream banks should watch out for competitors. It has proven almost impossible for me as a trader (trading my own book and living from that) to get a bank account set up. The level of bureaucracy is just incredible. Having no loans and don't need a lot of funny stuff I have ended up with N26 internet banking and Tide. Both work exclusively online and the costs are minimal compared to mainstream banks. So yes, I will agree that mainstream banks will suffer from both the economic climate with low interest and digitalization.
Reply
valentasm
Feb 18, 2020 1:41pm
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I think banks are one of the main industries will feel automation effect worldwide "a simplification of the bank's organizational structure and from the effect of technology and digitization on the business". But number looks like come from nowhere.
Reply
JustBreathe
Feb 18, 2020 5:59pm
Permalink
Quoting Not-KPMG
{quote} LOL Haven't heard something sillier today How yo gonna buy a loaf of bread??? That Maple Leaf that today/tomorrow cost what... 35 bucks silver, 2300 bucks gold...? How yo gonna buy a loaf of bread??? How yo gonna buy a loaf of bread??? Ohhhh wait. I'll use Bitcoin Link above.
Bitcoin has to be stable for it to be used as currency. Imagine your current counties currency moving that much lol.
Reply
g0ds0n
Feb 18, 2020 2:20pm
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HSBC is going to be one of the first banks to fail and collapse. This is a big sign of the big collapse coming. The NOT so mighty Dollar will soon perish( How soon, could be years, but will happen). Gold and silver will become real currency again.
Reply
Not-KPMG
Feb 18, 2020 3:07pm
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Just like that the poor underpaid bank slaves became poorer
Reply
afevir
Feb 18, 2020 3:45pm
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plans to reduce its global headcount by roughly 15% to 200,000 over the next three years?
15% is nothing, it will be much more than that, 70% already fits better, we should be convinced of it
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