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Report: HSBC laying off about 100 senior i-bankers

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Report: HSBC laying off about 100 senior i-bankers

HSBC Holdings Plcbegan laying off some 100 senior employees in its investment banking division across the globe, Reuters reported Jan. 20, citing "sources with direct knowledge of the matter."

The cuts target director- and managing director-level bankers in HSBC's global banking and markets division. An HSBC spokesman reportedly said: "We review on an annual basis performances across Global Banking & Markets and make appropriate changes to strengthen and grow the business."

The global banking and markets division, led by Matthew Westerman, previously axed several jobs in 2016, Reuters noted.