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Squeezed by superpowers, HSBC eyes next step of endless reboot to evade recession prospects

Squeezed by superpowers, HSBC eyes next step of endless reboot to evade recession prospects

The task of jettisoning low-return units while doubling down on Asia has gotten a boost from three new directors. The board will cut about 15% of the work force and trim investment banking. The question is the potential damage to the East-West network that attracts clients like Amazon.com Inc.