HSBC to cut 10,000 jobs
Folks,
Is is just me, or is the theme of this year job cuts (by the thousands)?
DB cut 18k employees, HP to cut 9k, and now HSBC is cutting 10k people. Does anyone have insight into which divisions / offices will be affected? Anyone there who has more Color on what to expect?
Also UBS and Laz AM cut recently and summer returns were significantly lower at some banks
Heard HSBC cuts are especially Senior and mid-level bankers in the UK and reductions in the Back Office.
IB/Markets SA conversion in London was fairly horrible across the board relative to prior years this summer (excluding obviously some few bright spots).
Anyone knows which divisions will be most affected - I'd imagine advisory?
Don’t think it’s advisory getting affected seems like a general cut overall business with emphasis in UK/Europe
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