By Marcus Leach

Following an announcement on Monday that said HSBC will cut 30,000 jobs worldwide as part of a cost-saving, the bank has revealed plans to hire 15,000 people in emerging markets.

Having reported losses of £300 million on Monday, and radical plans to cut costs and boost profits, the bank is now looking to re-focus business in Asia and Latin America.

Growth in the emerging markets is ahead of more traditional markets and over the next three years HSBC will look to create up to 15,000 jobs in these markets.

"Growth in the US and Europe is likely to remain sluggish as long as the impact of high debt levels and government budget cuts weigh on economic activity," the bank said in its earnings report.

HSBC believe that emerging economies are likely to be the key drivers of global economic growth.

"It is quite easy to see how one would be adding 3,000, 4,000, 5,000 a year in the emerging markets," said Stuart Gulliver, CEO of HSBC.

Join us on
Follow @freshbusiness