Ge Long Hui A P P·2026-02-20 10:10Group 1 - HSBC has laid off 10% of its U.S. debt capital markets team as part of its ongoing cost-cutting measures following a business restructuring announced in October last year [1] - At least six employees were terminated in New York, including a general manager, two directors, two associates, and an analyst [1] - Under CEO Georges Elhedery's leadership, HSBC aims to reduce employee costs by 8% to save $1.8 billion, while also integrating its commercial and investment banking divisions [1] Group 2 - The bank is shifting its focus away from M&A and equity capital markets in the UK, Europe, and the U.S., instead prioritizing operations in Asia and the Middle East [1] - HSBC's spokesperson declined to comment on the layoffs but emphasized the bank's commitment to talent retention and pride in its debt capital markets business [1]