HSBC’s new CEO just unveiled the biggest overhaul of the company in at least a decade, but it was missing some key details for employees and investors.
There was, for instance, no sense of how many jobs might be on the chopping block as the lender merged two of its largest businesses and axed some of its longtime regional divisions. Shareholders were also left wondering how much money the bank would even save after it implements the changes.
Some employees found it difficult to understand where they fit within the company’s new organizational structure, according to half a dozen people familiar with the matter. Others felt it was unclear if the bank will still be offering many of its core services in every market.
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