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Subject UH-Oh. HSBC Set to Cut Thousands More Jobs

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Original Message What going on?

HSBC is gearing up for thousands more job cuts, with Europe's biggest bank by market value set to outline the next stage in its strategic overhaul at an investor day in two months' time.

"There is no fantastical new strategy out there," said one person familiar with the bank's planning. "But there's still huge potential to be more efficient."

Stuart Gulliver, HSBC's chief executive, said when he announced annual results last week that he would "fixate on costs" over the coming year and promised to find a further $1 billion of annual savings in 2013.

[link to www.cnbc.com]

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