HSBC set to unveil $1.5B annual cost savings

By Reuters

Feb 15, 2025 12:09 am

HSBC is preparing to report $1.5 billion of annual cost savings from the changes implemented under its broad restructuring initiatives on Feb. 19, the Financial Times reported on Thursday.

Since the global financial crisis, HSBC has been scaling back its worldwide footprint, starting with exiting dozens of low-returning consumer banking activities, from France to Greece to Canada.

Already have an active account? Log in here to continue reading.
Or
Subscribe to the Premium Subscription plan to access this subscriber-exclusive article.

Related Articles

AI startup Perplexity confirms interest to buy TikTok

Temu's owner sees slow revenue growth

US labor market holding steady

Japan core inflation slows to 3% in February

MAS parent to buy 30 Boeing 737 MAX jets

China's restaurants race to the bottom

Tesla recalls Cybertrucks over exterior panel defect