HSBC reportedly considers significant layoffs in the coming years due to AI factors.

格隆汇 March 19｜HSBC Holdings Plc is planning large-scale layoffs in the coming years, with CEO Georges Elhedery betting on artificial intelligence to reduce the scale of its middle and back-office operations. This is one of the first significant signals of the technology reshaping Wall Street's employment landscape. According to sources who requested anonymity, non-client-facing positions in global service centers are expected to be most affected, and the relevant assessment is still at an early stage. One of the sources said that the adjustment could ultimately impact about 20,000 positions, accounting for approximately 10% of HSBC's total workforce.