Hang Seng Axes Jobs in Restructuring

Hang Seng Bank to axe jobs as part of restructuring initiative

Hang Seng Bank, a lender based in Hong Kong, has announced a restructuring initiative that would result in job losses for approximately 1% of its core workforce. In a statement, the bank, which is 63%-owned by HSBC, stated that it “reviews and restructures its business from time to time” in response to “the ever-changing market condition and diversified client needs” As part of this restructuring, Hang Seng Bank plans to enhance operational effi…

Hang Seng Bank Axes Jobs in Restructuring

read the original version on: www.retailnews.asia Hang Seng, a Hong Kong-based lender backed by HSBC, is preparing to make adjustments to its workforce as part of a wider restructuring plan and a move to incorporate more technology into its operations. Workforce Reduction The company has announced that it will be reducing its core staff by approximately 1 percent in an attempt […] The post Hang Seng Bank Axes Jobs in Restructuring appeared first…

Hang Seng Axes Jobs in Restructuring

HSBC-backed Hong Kong lender Hang Seng is cutting jobs as part of a restructuring and leveraging tech to improve operational efficiency. Hang Seng is restructuring its business and streamlining duplicate roles which will lead to about a 1 percent reduction in its «core staff», according to a statement. The bank did not specify how many jobs would be lost but added that technology would be used to improve operational efficiency and service qualit…