HSBC is considering job cuts that could impact around 20,000 roles or roughly 10 per cent of its global workforce as it ramps up an AI efficiency drive, according to reports. The potential reductions, which would focus on non-client facing roles in global service centres, come amid a multiyear overhaul led by chief executive Georges Elhedery.
The assessment is at an early stage, with no decisions yet finalised, sources told the news agency on Thursday. The bank had 208,720 full-time equivalent employees at the end of 2025. Such a cut would represent one of the largest AI-related workforce adjustments in banking to date.
