HSBC, Facing $2 Billion Settlement, Mulls 5,000 More Layoffs

HSBC sign: layoffs at British bank
HSBC sign: layoffs at British bank

By Matt Egan

Fresh off its $1.92 billion money laundering settlement, British banking giant HSBC reportedly is nearing a decision to further slash costs by axing another 5,000 jobs. According to the Financial Times, the London-based lender is "gearing up" for thousands more layoffs that could be outlined at an annual investor meeting in two months.