About 300 employees might be hit by closure of 24 branches
The restructuring will eventually eliminate one job in five around the world, and around a sixth of jobs in Britain
Investors also suffered a drop in earnings per share to $0.20 compared with $0.26 for the equivalent period in 2015
The revenues fell 4% year-on-year to $13.9 billion.
Profit also aided by favourable credit spreads movements in its debt and drop in operating expenses from a year ago
The new policy will lower the maximum amount its executive directors could earn by 7%
Says equities are not likely to benefit from structural reforms as they are trading at a significant premium
Q&A with Herald Van Der Linde, head equity strategy - Asia-Pacific, HSBC
The Sensex, which tumbled into a bear market last month, is still valued at a 47 per cent premium over a gauge of emerging markets
Shares of HSBC declined 5% in early trading in London and 2% in Hong Kong on Monday
HSBC shares weighed down by fear of future
Indian tax authorities have issued notices to global banking giant HSBC, warning of prosecution against its Swiss and Dubai arms; bank says co-operating with probe
The bank posted a profit before tax of $18.87 billion for 2015 against $18.7 billion a year ago