Staff morale sinks at HSBC ahead of strategy review

Staff morale sinks at HSBC ahead of strategy review with 10,000 jobs thought to be on the line

Just 38 per cent of HSBC employees in Europe, excluding the UK, felt confident about its future

HSBC’s staff are suffering from sliding morale ahead of a strategy review which could involve swathes of job cuts.

A survey of the bank’s 237,000 staff for the second half of 2019, seen by Bloomberg, showed just 38 per cent of employees in Europe, excluding the UK, felt confident about its future under interim boss Noel Quinn. 

That’s 21 percentage points fewer than in the first half of the year.

The lender will reveal a shake-up later this month, with changes to HSBC’s struggling French unit and its business on the west coast of America expected. 

Around 10,000 jobs are thought to be on the line.

 

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