HSBC Considers 20,000 Job Cuts Amid AI-Driven Cost-Cutting Efforts

HSBC is reportedly considering cutting approximately 20,000 jobs, about 10% of its workforce, as the bank aims to reduce costs through the adoption of AI and address 'staff-related inflation'.

19 Mar, 10:55 — 19 Mar, 10:55

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marketwatchMostly Factual41d ago

HSBC’s CFO just said the bank would turn to AI to cut costs. Now the bank is reported to consider 20,000 job cuts.

The bank is considering to get rid of roughly 10% of its total workforce, as the bank is focused on “staff-related inflation.”

By Steve Goldstein

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HSBC Considers 20,000 Job Cuts Amid AI-Driven Cost-Cutting Efforts

Sources

HSBC’s CFO just said the bank would turn to AI to cut costs. Now the bank is reported to consider 20,000 job cuts.

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