HSBC bonus pool flat in 2024 amid cost-cut drive; headcount falls 3%

Quick Summary:

SYDNEY/HONG KONG : HSBC's headcount fell 3 per cent last year and its staff bonus pool hardly changed as a new CEO sharpened focus on costs and initiated sweeping restructuring of the Asia-focused lender, showed its 2024 financial report issued on Wednesday.

The bank's bonus cash pool reached $3.

As part of the restructuring, the bank in October said it would combine some of its commercial and investment banking businesses and had installed a new leadership structure.

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Category: EconomyBusiness

Markets: SingaporeHong KongMexico

Topics: Businesses Billion Bankers Bonuses Year 2024 Bank Report Hsbc Bonus Showed

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-19 @ 14:49:22 (2 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 408 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 26 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 26267248

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