HSBC, Europe’s largest banking giant, is expected to be a major shock to employees soon. Specifically, the news that the company is working to reduce the burden of management is likely to cut a large number of employees. It is expected that there will be a higher volatility, particularly on top-level employees. In August, the company’s CEO, John Flint, was fired, and was replaced by Quinn.
Ownership at the time said it was a good idea to take early steps in view of the challenges and challenges ahead.
As part of this decision, it is reported that plans are underway to lay off tens of thousands of employees. The company is likely to make this decision in the event of a quarterly results.