These companies laid off thousands of employees this week

HSBC, the biggest bank in Europe plans to eliminate 35,000 jobs worldwide, as it continues to struggle with the impact of the coronavirus. The value of HSBC stock has fallen by over 25% since the onset of the pandemic.

The effects of the coronavirus are still battering the economy, despite small signs of a turnaround.

Just look at the most recent numbers: Another 1.5 million US workers filed for first-time jobless benefits last week, the Department of Labor said Thursday, for a total of more than 45 million Americans who have done so first-time benefits since mid-March.

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