HSBC plans to cut hundreds of jobs as part of a major restructuring under CEO Georges Elhedery. Senior bankers will reapply for positions in new corporate unit. One of the biggest banks in the world, HSBC , has started a massive round of layoffs in its investment banking section as part of a global restructuring initiative meant to lower yearly expenses. Under the direction of CEO Georges Elhedery, who is leading initiatives to improve profitability and ... HSBC Job Cuts : HSBC Holdings, led by CEO Georges Elhedery, is undergoing a major restructuring that heavily affects investment banking roles across Europe, the UK, and the Americas. The overhaul is expected to have a substantial impact on the global workforce as the bank aims to cut expenses by at least $3 billion. 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 ...
