Biggest mass layoffs of all time

Posted: 9:06 AM EDT Jul 17, 2014   Updated: 10:42 AM EDT Jun 09, 2015

British bank HSBC will shed 50,000 jobs in the coming years as it slashes costs and sells parts of the bank to focus on Asia. Check out some of the biggest mass layoffs of all time.

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British bank HSBC will shed 50,000 jobs in the coming years as it slashes costs and sells parts of the bank to focus on Asia. The changes are part of a major restructuring plan that is designed to save the bank $5 billion annually by 2017.

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