HSBC Considers Job Cuts of 20,000
HSBC CEO Georges Elhedery expectations that AI will allow the bank to reduce its middle- and back-office footprint has the bank's executive considering deep job cuts over the coming years that could impact as many as 20K roles, or about 10% of the bank's total workforce, Bloomberg reports, citing people familiar with the matter. The cuts could take as many as 3-5 years to implement, though no final decisions have been made, the report states.
