HSBC to shed assets worth $100b, lay off 35,000 people over three years

HSBC to shed assets worth $100b, lay off 35,000 people over three years

People walk past a major branch of HSBC at the financial Central district in Hong Kong, China February 21, 2017. REUTERS/Bobby Yip

HSBC Holdings said on Tuesday it would shed $100 billion in assets, slashing the size of its investment bank and revamping its U.S. and European businesses – in a drastic overhaul that will mean 35,000 jobs cut over three years.

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