HSBC cutting costs, laying off mid-senior level employees

HSBC cutting costs, laying off mid-senior level employees

While the mid-senior level employees of HSBC were eagerly looking forward to their bonuses, what they actually received was news of their layoff! These employees at the vice president level and above, were eliminated as part of cost-cutting measures, and were not given any bonuses at all. While there is no official announcement in this regard yet, as per a Financial Times report, this kind of sudden termination is very unlike HSBC, which has a r…