HSBC to cull senior executives in strategy shake-up

HSBC is set to unveil a strategy overhaul which will see a new round of job cuts targeting senior managers and reduce its presence in some smaller markets, Reuters reported. The round of job cuts is expected to affect "a large number of global managerial roles across all business units," particularly in London, though Asia would not be spared, the news agency reported, noting that the region contributes to 90% of the bank's profits. It is unclear exactly how many jobs will be cut. "More than cost-cutting, the idea is to make the structure at the top a bit leaner and give more decision...