LONDON (Alliance News) - HSBC Group PLC was said to be considering cutting hundreds of investment banking jobs as Chief Executive Officer John Flint looks to cut costs, Bloomberg reported on Thursday.
Citing "people familiar with the plan", Bloomberg said that "at least" 500 jobs could go within the global banking & markets unit of the FTSE 100-listed lender.
The job cuts are expected to begin at the unit as soon as mid-June, the Bloomberg sources explained. The process will then take place over the year.
https://www.bloomberg.com/news/articles/2019-05-30/hsbc-plans-hundreds-of-investment-bank-job-cuts-in-cost-drive
Shares in HSBC were 0.1% lower at 654.76 pence on Thursday.
HSBC Holdings (HSBA)