HSBC France will cut 235 out of 678 positions in its investment banking division, or a third of the workforce, we learned on Tuesday from union sources, confirming information from Les Echos .
Management presented staff representatives with a job protection plan (PSE) on Monday that includes "part of voluntary departures and part of economic layoffs," said Eric Poyet of FO HSBC. The British giant HSBC had announced in June that it would relaunch the restructuring plan providing for 35,000 job cuts worldwide out of 235,000, after having suspended it for a time during the Covid-19 pandemic.
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