HSBC to cut 4K jobs, oust boss

HSBC says it will cut around 4,000 jobs, or 2% of its workforce, while Chief Executive John Flint is stepping down after less than two years on the job. The bank pointed to the need for a change in leadership to address a “challenging global environment.” The lender has been grappling with digital disruption, trade and geopolitical tensions and a slow turnaround in its U.S. business. Fellow European lenders Barclays and Societe Generale have also announced job cutsrecently.

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