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Posts Tagged ‘HSBC Cutsoff jobs’

The Global meltdown in economy resulted in large number of layoffs and many companies are still carrying on this.The Companies have no option , other than cost cutting through Layoffs.The employees are fired and even many are still in temporary postion, so that they may even have send off party soon.

The Global economy turmoil forced the companies to do this,many banks have started to have strategical plans to save their banks.The biggest banks got affected because of this economy slow down were Lehmann brothers, Meriyll Lynch,AIG,Citigroup.Following this now the HSBC bank also involved in layoffs and now it has announced that there may be 500 job cuts in Asia.This made the employees of HSBC to have red face and they are in edge of their seat to survive in this slowdown.

Though the number is less when compared to other companies layoffs,since there is very big investment in India by HSBC, the employees in India working for HSBC are facing the heat.They might be dropped down at any moment.Hope everything will go up and all these economic slowdown will be solved.

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