HSBC to cut 30,000 jobs by 2013

LONDON — British banking company HSBC says it will cut 30,000 jobs worldwide by 2013, around 10 per cent of its global workforce.

Bank spokesman Patrick Humphris said Monday that 5,000 jobs have already been cut this year and another 25,000 will be cut by 2013. The bank currently employs around 296,000 people worldwide.

Humphris declined to give details of where the job cuts would be. He added that the group is still hiring in emerging markets such as Brazil and Mexico.