HSBC has announced 25,000 jobs cuts across its international operations amid restructuring that will see more focus in the East. The bank will sell businesses in Brazil and Turkey and is axing thousands of jobs as it closes bank branches in favour of online and self-service banking. There is also speculation that the mortgage lender will move its headquarters from London to Hong Kong as it focuses its growth in the Asian-Pacific region. No specific details have been announced that would affect Canadian staff or branches and as a profitable unit of the company there may be little change for the 145 Canadian branches. 

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