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HSBC is expected to cut yet more jobs... despite today reporting a massive £5.4billion profit in just three months.

Chief executive Stuart Gulliver has refused to rule out another cull on top of the 46,000 to go worldwide since he took over the top job at Europe’s biggest bank in 2011.

They include last month’s plans to shed more than 3,000 jobs in the UK, a move branded a “disgrace” by the union Unite, which is now considering strike action.

The threat of more job losses came as HSBC announced profits nearly doubled to £5.4bn - or just over £1,000 a second - in the first three months of this year.

The figure was boosted by a number of one-off gains, but even at an underlying level profits surged by a third to £4.9bn.

Under Mr Gulliver’s reign, HSBC’s workforce has dropped from 300,000 to 260,000, with another 6,000 in the pipeline.

More than 50 business have either been sold or closed.

Speaking today, he said he “could not give any assurances” on jobs.

Finance chief Iain Mackay recently said there was room for a further £640million of savings this year.

HSBC is due to update cost cutting going forward next Wednesday.

David Hillman, spokesperson for the Robin Hood Tax campaign, said: “HSBC’s sky-high profits are a stark reminder that banks operate on a different plane to the rest of the economy.

“The fact that banks are able to make such bloated profits while the rest of us suffer the consequences of austerity is the sign of an unhealthy economy - something the Government must do much more to fix.”

HSBC, still reeling from a record £1.2bn fine for money-laundering, made just under £1bn from its retail arm worldwide and £2.3bn from its global banking and markets division.

The amount set aside to cover bad loans fell 51% to £770m.

Mr Gulliver said the banking industry was moving into “calmer waters” as the euro-zone crisis appears to have settled down.