UK financial giant HSBC fires bankers on bonus day — and denies their yearly payouts
1. HSBC fired investment bankers before announcing bonuses, a rare move. 2. The bank focuses on M&A in Asia and the Middle East for profitability. 3. Job losses expected as CEO implements $1.5 billion cost-cutting strategy. 4. Bonuses increased to $3.8 billion in 2024 amid rising pressure to cut costs. 5. CEO Georges Elhedery could earn up to $19.2 million based on performance.