HSBC Cuts 134 Top Bankers in 2025, Paying $67.5 Million in Severance
HSBC dismissed 134 of its most senior bankers in 2025, incurring total severance costs of $67.5 million (about HK$526 million). These employees were classified as material risk takers, representing roughly 10% of that category. This marks the bank's largest annual reduction of such staff since the 2008 financial crisis, following a sweeping restructuring that included closing core parts of its investment banking business.
HSBC cut 134 of its most senior bankers in 2025, with related severance costs totaling $67.5 million (approximately HK$526 million). The affected employees were classified by the group as "material risk takers," and their number accounts for about 10% of the total in that category. This represents the largest annual reduction of material risk takers at HSBC since the 2008 financial crisis.
The group implemented a comprehensive restructuring in 2025, which included shutting down core parts of its investment banking business. The reduction in the number of material risk takers is part of a broader trend within the group that is not limited to the investment banking division. The relevant adjustments have been disclosed through regulatory filings.