HSBC axes 35,000 jobs as profits slump

London (AFP) – Asia-focused banking giant HSBC on Tuesday axed 35,000 jobs, far more than expected, and posted slumping annual profits, as it warned over the financial impact of the deadly coronavirus.Pre-tax profits tumbled by a third to $13.3 billion (12.3 billion euros) in 2019 from a year earlier, largely owing to a $7.3-billion write-off related to its investment and commercial banking businesses in Europe.The London-based lender added in a results statement that it hopes to cut its global workforce by 15 percent to 200,000 staff over the next three years. Commentators had expected 10,000…

Read More