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HSBC HOLDINGS May Dismiss Hundreds of Senior Bankers Like Managing Directors to Streamline Structure: Report
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HSBC HOLDINGS (00005.HK) announced last month that it is streamlining its organizational structure into 4 major business operations, naming Hong Kong, UK, corporate and institutional banking, international wealth and premier banking. HSBC HOLDINGS has asked hundreds of managers to re-apply for jobs in its corporate and institutional banking division, Bloomberg quoted sources as saying. Interviews have already begun, meaning senior staff from the commercial banking division as well as those from global banking and capital markets unit will be competing for positions in the newly created division. The company is expected to begin laying off hundreds of managing directors and other senior bankers in the next few weeks. AAStocks Financial News |
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