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HSBC looking to cross-cut 10,000 high paid jobs to reduce costs

HSBC Holdings Plc (HSBA.L) is planning to slash at least 10,000 high paid jobs in a bid to reduce costs across the banking group. Chief Executive Officer Noel Quinn is looking to cut costs and it might be the company's most ambitious plan. HSBC may begin the cost-cutting drive when it reports third-quarter results later this month. The ongoing trade war between China and the United States also has a role to play.