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HSBC to cut jobs in Middle East, North Africa, Turkey

HSBC Holdings PLC will ax hundreds of jobs in the Middle East, North Africa and Turkey, starting November, as part of its cost reduction program, Bloomberg News reported, citing people with knowledge of the bank's plans.

The U.K.-based bank was cutting costs, and was likely to reduce up to 10,000 jobs across the company.

The bank might target its global banking and markets and commercial banking units in the cuts, the Oct. 25 report noted.