The latest round of job cuts — part of a broader cost-saving strategy long anticipated since the overhaul announced by Elhedery on October 22 — comes as the 159-year-old bank faces mounting pressure on profit margins due to global interest rate cuts . HSBC Holdings has laid off over two dozen analysts in recent days as part of its ongoing overhaul of its investment banking division. 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. HSBC ’s impending restructuring, which includes potential job cuts and bonus payouts, sends a clear signal to investors about the bank’s strategic direction. The decision to axe investment bankers while rewarding others with bonuses is a bold move by new CEO Georges Elhedery, aimed at streamlining operations and enhancing profitability.
