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HSBC pays US$67.5m severance for 134 senior banker layoffs in 2025

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Sig3.62Sen-4.23Env0.00Soc-3.34Gov-0.10

HSBC paid US$67.5 million in severance in 2025 to lay off 134 top risk-taking bankers, the largest such senior cut in a single year since the 2008 financial crisis. The figure represented about 10% of the bank’s total headcount. The layoffs followed CEO Georges Elhedery’s push to restructure investment banking, including closing M&A and equity capital markets advisory operations in the US, UK and Europe.

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