HSBC's CFO just said the bank would turn to AI to cut costs. Now the bank is reported to consider 20,000 job cuts.

Core Viewpoint - The bank is contemplating a reduction of approximately 10% of its total workforce, driven by concerns over "staff-related inflation" [1] Group 1 - The bank's focus on managing costs is leading to potential layoffs [1] - The decision reflects broader industry trends regarding workforce management and cost control [1]