HSBC: HSBC lays off bankers on bonus day, no payouts given
HSBC has taken drastic cost-cutting measures by firing investment bankers on the day they were expecting their bonuses. The layoffs are part of a broader strategy to focus on Asia and the Middle East, aiming for significant annual savings by the end of 2026.
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CEO
Georges Elhedery
HSBC is an England-based financial institution that provides services such as wealth management and digital banking for individuals and businesses.
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