Reuters.com - HSBC cutting 1,100 global banking and market jobs

HSBC cutting 1,100 global banking and market jobs Fri Sep 26 05:08:06 UTC 2008 HONG KONG (Reuters) - HSBC Holdings <HSBA.L> <0005.HK>, Europe's biggest bank, said on Friday it was cutting 1,100 jobs in its global banking and markets operation, or 4 percent of the unit's total, amid the global financial crisis. "We're doing it because of market conditions and the economic environment, and our cautious outlook for 2009," Hong Kong-based spokesman Gareth Hewett told Reuters.