Well you have to consider the logic behind the cuts.
For example, in France (one of the cited countries), HSBC entered the territory by buying a big bank, CCF, then by buying many of the smaller banks that were familly owned.... this results in an abundance of bank street offices and some overcrossing jobs elsewhere in the company. The logical issue of the situation is to close some street offices and reduce the workforce by letting go of the employees that are not needed.
A company is not a charity fund, if they don't need the people, they do economic reductions of the workforce.
(moreover, in the case of France, they are displacing their head offices in the next few years and will also be making cuts based on that)
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