HSBC to Slash 348 Jobs in France Amid Cost-Cutting Strategy

HSBC Holdings plc (HSBC) plans to reduce its workforce in France by 348 jobs, accounting for approximately 10% of its staff in the country. This move is part of the overall cost-cutting strategy by CEO Georges Elhedery, aiming to reduce the expense by $1.5 billion by 2026.  The job reductions will be implemented through a voluntary redundancy scheme, allowing employees to exit on mutually agreed terms. These cuts are part of a broader program aimed at simplifying operations and enhancing efficiency in an in ...