HSBC To Fire 50,000, One In Five Jobs (To Fund Dividends To Shareholders)

``According to Reuters, the bank's second big overhaul since the financial crisis "will speed up a cull of unprofitable units and countries by cutting almost 50,000 jobs - half of them from selling businesses in Brazil and Turkey." Gulliver warned that its decision to sell its businesses in Turkey and Brazil, where it had failed to gain scale, showed that HSBC "had no sacred cows".  ''