Banks typically trim jobs towards the end of the year, but 2022 has seen a bigger wave of redundancies and layoffs.
The Wall Street giantGoldman typically trims about 1% to 5% of its staff each year, and the 2022 cuts will likely be in the lower end of that range, a source told Reuters.Under pressure from his biggest shareholder, China's Ping An Insurance Group, to improve profit HSBC Chief Executive Noel Quinn has in recent months accelerated plans to shrink its global empire and streamline its management.
HSBC is shedding at least 200 senior managers, as it prunes the ranks of Chief Operating Officers it has across an array of country and business lines.for $10 billion, removing around 4,000 employees from its wage bill at a stroke. It also announced on Nov. 30 the sale of its much smaller New Zealand business, and the closure of a further 114 branches in Britain, leaving it with around a third of the number of outlets it had as recently as 2016.
France Dernières Nouvelles, France Actualités
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