Finance
HSBC Plans New Round of Investment Bank Job Cuts Next Week
- Wider layoffs of dealmakers to start in Asia as soon as Monday
- CEO Georges Elhedery continues to overhaul bank, slash costs
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HSBC Holdings Plc is kicking off a fresh round of job cuts at its investment bank as new Chief Executive Officer Georges Elhedery continues his overhaul of Europe’s biggest lender, according to people familiar with the matter.
The latest phase of cuts will start in Asia, but will ultimately affect employees globally, said the people, who asked not to be identified discussing private matters. It’s not clear how many people will be affected by the moves.