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HSBC continues cost-cutting efforts, jobs at private bank in Switzerland next in line

In keeping with chief executive officer Stuart Gulliver’s plans to shave US$3.5 billion off costs by 2013, HSBC has confirmed that it will be cutting jobs at its private banking operations in Switzerland. When contacted, a spokesperson at the bank declined to comment on the figure but stated that the bank was going through an “organisational effectiveness programme globally.” Recent…

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