AI-led layoffs up of up to 20,000 in numbers may be coming to HSBC, as CEO Georges Elhedery reportedly bets on AI to shrink the company's ...
HSBC is reportedly planning significant job cuts, potentially impacting 10% of its workforce, or around 20,000 employees, over the next three to five years. Chief Executive Georges Elhedery is leveraging Artificial Intelligence to streamline middle and back-office operations, aiming for greater cost efficiency and productivity. Non-client facing roles are expected to be most affected as the bank explores AI-driven changes.
HSBC is reportedly planning significant job cuts, potentially impacting 10% of its workforce, or around 20,000 employees, over the next three to five years. Chief Executive Georges Elhedery is leveraging Artificial Intelligence to streamline middle and back-office operations, aiming for greater cost efficiency and productivity. Non-client facing roles are expected to be most affected as the bank explores AI-driven changes.
