HSBC Holdings (HSBC, Financial) has terminated several investment bankers on the same day they anticipated bonus announcements for 2024, leaving many without payouts, according to recent reports. This action is part of HSBC's broader plan to scale back its mergers and acquisitions as well as equity capital markets operations across Europe, the UK, and the U.S. as it strives for a $300 million savings target this year and a $1.5 billion cost reduction by 2026. Staff affected by this restructuring include senior employees at the vice president level and above.
HSBC Restructures, Cuts Bonuses in Major Overhaul
Mar 27, 2025
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