HSBC to sack 50,000.
http://money.cnn.com/2015/06/09/investing/hsbc-job-cuts/index.html Get used to headlines like this, banks are going to spend the next ten years explaining why they are 'downsizing'. The largest bank in the world - is pretty much lost for reasons why they no longer figure out ways to make money.
Good riddance.
I wouldn't read too much into this. They are simply shedding some dead weight by getting rid of unprofitable divisions. It's actually a good sign (for HSBC stockholders) and should make the company stronger. It's definately not a sign of the end of the banking industry. Banks went through much worse in 2008 and the ones who survived emerged stronger.