AsianFin -- HSBC's decision to shut down its international payments app, Zing, is set to result in approximately 400 job losses, according to a source familiar with the situation. This move is part of CEO Georges Elhedery's broader strategy to reduce costs at Europe's largest bank.
Employees at risk of redundancy will be notified starting Thursday. The 400-job estimate includes a significant number of non-HSBC external customer support staff.
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