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The Independent UK
The Independent UK
Business
Rob Freeman

HSBC announce major cost-cutting drive including job losses as pre-tax profits top £25bn

HSBC Georges Elhedery United Kingdom

HSBC is targeting savings of $1.5 billion US (£1.2bn) by the end of 2026, the firm announced.

The UK’s largest bank confirmed its plans to make cost reductions as it revealed a pre-tax profit of $32.3bn (£25.6bn) for 2024 on Wednesday in its annual results. That figure was up from $30.3bn (£24.1bn) in 2023.

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