HSBC Singapore spared bank's global layoffs this year

Singapore

HSBC Singapore will not be affected this year by the bank's global redundancy plan that would impact 35,000 staff in the medium term, The Business Times understands, with minimal cuts in headcount expected here over the next few years.

A spokesperson from HSBC Singapore said that the Republic remains a growth market for the bank and that its earlier plans to add more than 400 retail and private banking front-end staff by 2023 remain on track.