HSBC (HSBA.L) promised to dismantle a new era of higher dividends on Tuesday arrangements for nearly a fifth of jobs and reduce the size of the investment bank to combat than a third to the low growth by expanding its empire.
CEO Stuart Gulliver took on the task of profits, since he to raise the head of Europe's largest bank by assets in 2011, but their efforts have so far been thwarted low by the high costs of compliance, fines and interest.
In the second major review of the bank since the financial crisis, it is accelerated the slaughter of unprofitable units and countries by about 50,000 jobs - half of it from the sale of businesses in Brazil and Turkey.
The Bank also plans to increase its business in Asia, especially in China ,.
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