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HSBC HOLDINGS Said to Kick off New Round of Layoffs at I-bank Next Wk Soonest
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HSBC HOLDINGS (00005.HK) will kick off a new round of layoffs at its investment bank next week, Bloomberg reported, citing people with the knowledge of the matter. The bank will start in Asia as soon as next Monday (17th), and eventually expand to other regions around the globe, and that it expects the entire layoffs to last for several weeks or even months, sources divulged. The layoffs will be purportedly targeted at underperforming employees, as well as to eliminate duplication of positions or streamline operations. In response to the reports, a spokesman for HSBC said that the group is focusing on areas where it has evident competitive advantages and the greatest opportunities for growth, while increasing its leadership and market share in the relevant areas, based on the October 2024 announcement. AAStocks Financial News |
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