HSBC have announced that they are cutting jobs in an effort to reduce costs.
Could this be an attempt at saving money whilst ignoring other cost saving ideas that could protect jobs?
For instance, could HSBC choose reduce their bank hours on the high street by not opening their branches (in the UK) on a Saturday and use this method to reduce costs. This would be just one idea of a number for bank to reduce operating costs that would not cause job losses.
Or is it that reducing staff is the easiest solution for the bank, one that sees instant savings and which requires little managerial thought?