Bank forced to shed jobs due to low interest rates, Brexit and global tariff wars
HSBC plans to lay off up to 10,000 staff as it embarks on a fresh cost-cutting drive just months after ousting its chief executive.
The cuts would mostly affect high-paid roles and shrink the global workforce by 4%, the Financial Times reported (£). It comes as the UK-based bank grapples with falling interest rates, Brexit and global tariff wars. HSBC declined to comment.