The Zhitong Finance App learned that on November 7, local time, Michael Roberts, head of global wholesale banking business newly established by HSBC Holdings (00005), said that HSBC plans to complete the ongoing restructuring very quickly and may announce the first round of layoffs within the next few weeks. According to reports, the CEO of corporate and institutional banking and head of Western marketing said that layoffs will focus on senior positions, and that the restructuring plan announced by CEO Georges Elhedery (Georges Elhedery) last month will be completed in a well-considered manner.

Michael Roberts said: “We are very aware that this will distract us from work, so we will act as soon as possible. We said a few weeks ago that the first round of layoffs will take place in a few weeks, and related work will be carried out very quickly. HSBC will disclose details of the number of layoffs when the annual earnings report is released. It also indicates that in February, there are not only numbers, but also organizational structures.

According to reports, Foreign Exchange Control announced a simplified organizational structure last month into four major businesses to speed up implementation of its priority strategies. Starting from January 1, 2025, HSBC will operate through the four business categories of Hong Kong, the United Kingdom, corporate and institutional banking, international wealth management, and excellent financial management, each with clear terms of reference, while simplifying the geographical settings to the eastern market and the western market.

CEO Ai Qiaozhi indicated at the time that after the restructuring, some senior positions would inevitably become redundant (redundant), and layoffs were inevitable.