UBS - Why HSBC Holdings Shares Are Falling Today | Benzinga
HSBC Holdings, Plc. (NYSE:HSBC) shares are sliding on Tuesday.
Amid a decline in dealmaking across the region, the company has reportedly initiated a fresh wave of job cuts at its Asia investment bank, Bloomberg reported.
On Tuesday, the London-headquartered lender reduced its workforce by approximately a dozen bankers within its investment banking division in Asia, the report read.
HSBC follows global counterparts like UBS Group AG (NYSE:UBS), Goldman Sachs Group, Inc. (NYSE:GS), and Citigroup, Inc. (NYSE:C) in implementing multiple rounds of job cuts in Asia ...