HSBC considers slashing 20,000 jobs in AI-driven layoffs

HSBC is considering slashing nearly 20,000 jobs, roughly 10% of its workforce, over the coming years as the bank plans to use AI to reshape its workforce and cut costs. Non-client-facing roles, particularly within global services division, are likely to be impacted. The discussions on the potential layoffs are in early stages, and no final decisions have been made yet.