Case study, HSBC eyes thousands of additional job cuts. London: HSBC is gearing up for thousands of more job cuts, with Europe's biggest bank by market value set to outline the next stage in its strategic overhaul at an investor day in May. There is no fantastical new strategy out there, said one person familiar with the bank's planning, 'but there's still huge potential to be more efficient." Stuart Gulliver, HSBC's chief executive, said when he announced annual results last week that he would 'fixate on costs' over the coming year and promised to find a further $1 billion of annual savings in 2013. The job cuts target is still to be fixed but people close to the bank suggested up to 5000 staff could go as part of the savings plan. If HSBC maintained the recent rate of staff cuts tp cost savings, the number would be closer to 10000. Mr Gulliver, in charge since early 2011, has spent the past few years trying to streamline HSBC's global network of fiefdoms, both in order to impose more control from head office in London and to strip out overlaps and inefficiencies