HSBC is considering deep job cuts that could ultimately affect around 20,000 ?roles, or about 10% of its total workforce, Bloomberg reports, citing people familiar with the matter. Non-client facing roles in global service ?centers are among those expected to be the most impacted as ?the bank bets on AI, although the assessment is at ?an early stage and no final decisions have been made. A spokesperson for HSBC declined to comment. A Bloomberg Intelligence report published last year said global banks could eliminate as many as 200,000 positions in the next three to five years due to AI. Chief information and technology officers surveyed for the report indicated that on average they expect a net 3% reduction in workforce.
