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HSBC drops plan for 2016 pay freeze in speedy backpedal | Reuters

Feb 12, 2016    

LONDON HSBC, Europe's largest bank, has dropped plans to freeze pay this year, according to a memo by Chief Executive Stuart Gulliver seen by Reuters, reversing a cost-cutting decision made less than two weeks ago.

The memo, in which Gulliver expresses caution on the outlook for HSBC's revenues this year, comes at a significant time, days before HSBC's board is set to meet to ...

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