London, March 30: HSBC (Hongkong and Shanghai Banking Corporation), a world-renowned bank, has started layoffs and affecting investment bankers. The bank already warned about cutting its costs and focusing on revenues by implementing HSBC layoffs. The laid-off investment bankers reportedly were shocked and angry by the bank's decision. The job cuts initiated by the bank have affected thousands of roles, including those working at the senior level, VP level, and above. 

HSBC layoffs are the bank's answer to saving a significant amount by the end of 2026 by cutting costs and firing a group of investment bankers. The banking giant took the workforce reduction decision as part of a broader strategy to focus on Asia and the Middle East regions. Following this, the bank dismissed several employees in an "unexpected manner," according to the reports. The laid-off staff was stunned. Infosys Layoffs: Job Cuts Continue As IT Giant Lays Off Another 45 Trainees From Mysuru Campus, Offers Them Training for Potential Roles in BPM Industry.

Reports said that the layoffs did not include any compensation for the 2024 performance bonuses. The fired employees were expected to get them, but the company did not offer them. Stunned, one of the employees said that the bank had a reputation for looking after its people and was "very unlike HSBC." Many employees thought that despite getting laid off, the bank would give them a pro-rata bonus for the time they worked throughout the year. Tech Layoffs: 22,692 Employees Laid Off by 81 Companies So Far in 2025, Job Cuts Surge Globally Amid Various Reasons.

The mid-senior level employees were laid off by HSBC on bonus day and did not provide any payout. HSBC's new CEO, George Elhedery, who joined in 2024, reportedly planned to reduce the costs that affected the employees. The layoffs were announced as a part of HSBC's strategy to step back from investment banking operations in Western markets. The cost-cutting plan is expected to help the company save USD 1.5 billion annually by 2026. It also includes scaling down the operations in mergers and acquisitions advisory and equity capital markets for the same regions.

(The above story first appeared on LatestLY on Mar 30, 2025 12:43 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).