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HSBC HOLDINGS May Announce New Round of Layoffs within Weeks to Streamline Structure
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Michael Roberts, head of HSBC HOLDINGS (00005.HK)'s newly established global wholesale banking unit, said the bank will seek to wrap up the ongoing restructuring very swiftly and may announce the first round of layoffs within a few weeks, which will majorly involve the management, Bloomberg reported. HSBC had announced last month that it would streamline its organizational structure into four key businesses in order to speed up the implementation of its strategic priorities. From January 1, 2025, HSBC will operate through four businesses: Hong Kong, the UK, Corporate & Institutional Banking, International Wealth Management & Premier. Each business will have a specific area of responsibilities. AAStocks Financial News |
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