HSBC mulls up to $300 million cost-cutting plan, targeting senior roles: Report
- Posted on October 10, 2024
- By Business News Today
- 4 Views
HSBC mulls up to $300 million cost-cutting plan, targeting senior roles: Report
HSBC CEO Georges Elhedery is considering $300 million in cost-cutting measures, focusing on senior bankers. The plan includes a potential merger of the commercial and investment banking units to remove overlapping roles. The shift follows previous business reductions in the U.S., France, and Canada to prioritize Asia.