StocksMedium•7 October 2026•
1 min read
HSBC Plans to Cut UK Wealth Management Workforce by 70%
Key Facts
1HSBC is planning to reduce its UK wealth management workforce by as much as 70%.
HSBC is planning to reduce its UK wealth management workforce by as much as 70%. Investing.com reported that the move is part of the bank's efforts to streamline its operations within this specific sector.
The planned job cuts are part of a broader restructuring strategy aimed at improving the efficiency of the bank's local UK operations. This development follows recent economic data showing the UK Current Account recorded a deficit of 19.9 billion on September 30, 2026.