HSBC British Bank

Brazil Turkey: Instead, the bank wants to expand in China and ASEAN countries, according to Deutsche Welle. HSBC has already reduced staffing levels from 295,000 in 2010 to 258,000 at the end of 2014. Between 7,000 and 8,000 of those jobs will be cut in the UK. The company said it would largely close down its operations in Brazil and Turkey, which will reduce staffing levels by another 25,000. Under the latest plans, total headcount will go down to between 208,000 and 211,000. Asia investment Part of the restructuring at HSBC is a review of where to locate its headquarters by the end of this year. It also plans to set up what it calls a "ring-fenced British bank," which will be based in Birmingham, central England. 0:00:00 0:00:00Swiss Leaks - the HSBC money laundering machine The bank said it would aim to cut costs by between $4.5 billion and $5 billion annually by the end of 2017. "HSBC is now undertaking a significant reshaping of its business portfolio," the bank, which this year marks its 150th anniversary, said. "It is redeploying resources to capture expected future growth opportunities and adapting to structural changes in the operating climate," it added. (news.financializer.com). As reported in the news.