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| HSBC headquarters building |
An email was sent to staff on Friday detailing the latest cost-saving measures, according to the sources who spoke on condition of anonymity. Like numerous other global banks, HSBC (HSBA.L) is in the midst of a cost-cutting drive to boost profitability and returns to shareholders, and is pushing through with plans for annual cost savings of up to $5 billion by 2017.
Europe's biggest bank said in June that it planned to slash nearly one in five jobs and shrink its investment bank by a third in response to sluggish economic growth and tighter global regulation of bank balance sheet risk.
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