HSBC plans a $300m cost-cutting initiative, targeting senior employees, as it merges banking divisions and shifts focus to Asia.

HSBC is planning a $300 million cost-cutting initiative that targets senior-level employees as it merges its commercial and investment banking divisions. This strategy, led by CEO Georges Elhedery, aims to streamline operations and enhance efficiency. The bank has been reducing its presence in Western markets, focusing instead on strengthening its position in Asia. HSBC has not yet commented on the proposal.

October 10, 2024
27 Articles

Further Reading