A round of cuts may be coming soon, with more people put at risk in December in the UK. Possibly something to do with office space….
this is terrible sorry to hear
Can totally beleve it! The most obvious/expensive cuts were done earlier in the year, but there is no general policy of auto culling the bottom 5-10% so perhaps an opportunity to cull the underperformers and/or folks who don’t fit after the restructuring. Might as well do it in 2025 to kitchen sink the one-time charge for redundancies.
Allegedly need to get costs off the books before year-end
And yet it also terribly standard
As an old saying goes: not if, but when…
Maybe they were celebrating Georges’ one year anniversary.
HSBC from memory makes cuts at different times depending upon the department. So no sinister master plan.
Sorry to hear that news.