HSBC Holdings reveals its plan to eliminate 193 jobs in India

HSBC Holdings, which has the biggest bank network in the Hong Kong, plans to eliminate 193 jobs in India to reduce costs at its consumer division as bad loans rise in a slowing economy.

The bank intends to move about 620 people among its various departments as part of its plan to cut costs.

According to an estimate, the job losses amount to about 0.5 per cent of its 36,650 employees in India.

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