HSBC to sack hundreds of top bankers in scramble to cut costs

By Yahoo! Finance | Nov 18, 2024 at 05:39 AM EST

HSBC is cutting costs by laying off senior bankers, prompting reapplications for jobs. The bank aims to streamline its corporate and institutional banking division, reducing roles to improve efficiency. HSBC plans to restructure its business lines and operations under new CEO Georges Elhedery.

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