Reported 26 days ago
HSBC Holdings Plc is set to initiate another wave of job cuts at its investment bank as CEO Georges Elhedery leads a restructuring effort. Starting in Asia, the layoffs will span globally, with focus on performance-based dismissals and streamlining operations. While some cuts are already happening, broader layoffs will commence as soon as Monday, affecting senior management and staff, amid concerns about HSBC's retreat from certain business areas. The bank anticipates clearer details on these changes when it releases its annual results on February 19.
Source: YAHOO