Banks typically trim jobs towards the end of the year, but 2022 has seen a bigger wave of redundancies and layoffs.
The Wall Street giantGoldman typically trims about 1% to 5% of its staff each year, and the 2022 cuts will likely be in the lower end of that range, a source told Reuters.Under pressure from his biggest shareholder, China's Ping An Insurance Group, to improve profit HSBC Chief Executive Noel Quinn has in recent months accelerated plans to shrink its global empire and streamline its management.
HSBC is shedding at least 200 senior managers, as it prunes the ranks of Chief Operating Officers it has across an array of country and business lines.for $10 billion, removing around 4,000 employees from its wage bill at a stroke. It also announced on Nov. 30 the sale of its much smaller New Zealand business, and the closure of a further 114 branches in Britain, leaving it with around a third of the number of outlets it had as recently as 2016.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Harry Styles & Bad Bunny Lead the Charge: The Year in Global Charts 2022.Harry_Styles' 'As It Was' is the top song of 2022 on the Billboard Global200 and Global Excl. U.S. charts. 📈🌍
Read more »
YouTube Music 2022 Recap now available, here are the highlightsJoining Apple Music Replay 2022 and Spotify Wrapped 2022, YouTube Music is also making available its 2022 Recap.
Read more »
The 25 Best TV Shows of 2022The watchword for TV in 2022? “More.” But the Paste_TV editors and writers managed to narrow this Peak Output down to the 25 best of the year, where comedies and half-hour series dominated:
Read more »
How to Find Your Spotify Wrapped 2022We’re here to help you find your Spotify Wrapped roundup this year.
Read more »
FSA eligible items to buy before the 2022 deadlineStock up before the deadline!
Read more »
Girls soccer All-State & full postseason honors for 2022Check out everything you need to know about the best teams and players in New Jersey.
Read more »