HSBC Pushes Ahead With Cost-Cutting Measures, Bloomberg Reports
-- Lender HSBC aims to cut costs by not replacing staff in some roles and pausing hiring in some parts of the business, Bloomberg reports citing unnamed sources.
-- The bank's investment bankers were reminded of work travel expectations at a company town hall recently, and told to take at least three client meetings a day on work trips, Bloomberg reports.
-- "Servicing our clients is our priority and ensuring we have the right people in the right places. We are working smarter and more efficiently as we leverage technology and continue to manage costs," an HSBC spokesperson told Dow Jones Newswires.
Full story: https://tinyurl.com/ywfh4sth
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
July 02, 2024 08:40 ET (12:40 GMT)
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