CostCutting
HSBC expects cost-cutting drive to hit less than 8% of global headcount
HSBC chief executive officer Georges Elhedery has said that the impact on the bank’s global headcount arising from its drive to cut costs is likely to be under 8...
HSBC, on cost-cutting drive, expects hit to global headcount to be under 8%
HSBC chief executive officer Georges Elhedery has said that the impact on the bank’s global headcount arising from its drive to cut costs is likely to be under 8...
VW union to start walkouts on Monday over cost-cutting plans
VOLKSWAGEN (VW) workers across Germany plan to stage walkouts starting on Monday (Dec 2) after labour leaders and management failed to reach an agreement over how to slash costs...
Amazon reassures investors with cloud growth, cost-cutting
AMAZON.COM reported strong results that showed a company humming on all cylinders, a testament to its efforts to cut and reallocate costs and put the cloud computing and e-commerce...
HSBC mulls cost-cutting plan of up to US$300 million, targeting top ranks: report
HSBC CEO Georges Elhedery is weighing cost-cutting measures that could save up to US$300 million by reducing top management layers, the Financial Times (FT) reported on Thursday (Oct 10).The...
HSBC curbs hiring, reins in banker travel in cost-cutting push
HSBC Holdings is slowing down hiring and asking investment bankers to rein in their travel and entertainment expenses as outgoing chief executive officer Noel Quinn looks to curb costs...
Moderna beats quarterly estimates as cost-cutting pares losses
Moderna reported a narrower first-quarter loss than Wall Street had expected, as the biotech giant’s cost-cutting helped offset a steep decline in its Covid business.The Cambridge, Massachusetts-based company reported...
