LSE:HSBABanks
HSBC’s AI Overhaul And 20,000 Job Cuts Reshape Long Term Story
HSBC Holdings (LSE:HSBA) plans to cut around 20,000 jobs over the next 3 to 5 years as part of an AI driven overhaul of its operations.
The bank has created a new Chief AI Officer role and expanded the remit of its Chief Technology Officer to speed up AI adoption across the group.
The multi year plan aims to reshape HSBC's cost base and service model by automating more internal processes and tailoring customer offerings.
For investors tracking HSBC Holdings at £12.866 per share, the news...