A logo of HSBC is seen on its headquarters at the financial Central district in Hong Kong, China on Aug 4, 2020.HONG KONG — HSBC is cutting as many as 15 per cent of its 2,000 senior operations managers worldwide, as it attempts to streamline its management ranks and reduce costs, two sources with knowledge of the matter said.
Incoming finance officer Georges Elhedery has been involved in the project to trim management headcount, the sources said. Last month, Ping An Asset Management, a wholly-owned unit of Ping An Insurance urged HSBC to aggressively reduce costs by cutting jobs and divesting peripheral non-Asian businesses, its first such public call.
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