HSBC asks hundreds of managers to reapply for jobs in bank revamp, sources say

Quick Summary:

Bank will start to lay off several hundred managing directors and other senior bankers in coming weeks, sources say.

It will have an Eastern regional unit including Asia Pacific and the Middle East, and a Western market that includes its non-ring-fenced bank in the UK, Europe and the Americas.

He warned that senior managers would be the main targets of any related job losses, adding the move would result in net cost savings.

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Article Details

Category: EconomyBusiness

Markets: SingaporeHong Kong

Topics: People Elhedery Senior Bank Division Banking Months Hsbc Managing Hundred Staff

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-19 @ 07:42:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 600 words

Reading Time: 4 minutes read

Sentences: 25 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 23682076

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Main Topics: EconomyBusiness

Official Website: straitstimes.com

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