HSBC plans to cut senior banker roles in order to reduce costs after reporting a nearly 10% increase in profits. The bank will reorganize its geographical units, reducing them from five to two. The changes aim to simplify the organization and eliminate duplication of roles at a senior level. The cost savings will primarily come from trimming the number of top bankers working at HSBC. The bank reported a pre-tax profit of $8.5 billion for the third quarter, exceeding analysts' expectations.
image sourced from original article at https://www.dailymail.co.uk/wires/pa/article-14014251/HSBC-start-cutting-banker-roles-reveals-jump-profit.html
Original article source: https://www.dailymail.co.uk/wires/pa/article-14014251/HSBC-start-cutting-banker-roles-reveals-jump-profit.html
Source Id: 8385816032