HSBC to cut 193 jobs in India

HSBC Holdings, Europe’s largest bank, plans to eliminate 193 jobs in India to reduce costs at its consumer division as bad loans rise in a slowing economy.

The bank will move about 620 people among its various departments as part of its plan to cut costs, said Malini Thadani, the spokesperson of the bank here. The job losses amount to about 0.5 per cent of its 36,650 employees in India.