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HSBC mulls job cuts that could impact around 20,000 roles, Bloomberg News reports

By Thomson Reuters Mar 18, 2026 | 7:26 PM

March 18 (Reuters) – HSBC Holdings Plc is weighing a ​wave of ‌deep job cuts over the coming years that could ‌ultimately ​impact around ⁠20,000 roles, ⁠or about 10% of its total workforce, Bloomberg News ​reported on Wednesday, citing people ⁠familiar with ⁠the matter.

Non-client ​facing roles in global ​service centers are ‌among those expected to be most impacted as ⁠the bank bets on AI, although the assessment ⁠is ‌at an ⁠early stage, ​the ‌report added.

Reuters could ​not immediately verify ⁠the report.

(Reporting by Carlos Méndez in Mexico City; Editing by Sherry ​Jacob-Phillips)