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.
That's true the situation in 2008 was horrible across the globe as all the countries were hit by recession and there were many companies including banks who got rid of unprofitable divisions and also the non performers who were asked to resign on the spot and it is in the benefit of the company itself so its not an end of banking industry.