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HSBC HOLDINGS Reportedly Weighs to Slash Bonuses of Some Staff
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HSBC HOLDINGS (00005.HK) is set to slash bankers' bonuses, bucking a broader industry trend, as it pushes ahead with a restructuring that is poised to axe multibillion-US-dollar in costs, Bloomberg said, citing sources. Some people with the knowledge of the matter were told that bonuses will drop this year in departments such as corporate and institutional banking. While no final decision has been made on the matter, internal guidance so far is that bonus award could be disappointing in the coming weeks, people familiar with the matter said. A spokesman for HSBC said the board remuneration committee will make variable decisions in the first quarter based on its full-year performance. AAStocks Financial News |
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