HSBC is considering cutting as many as 10,000 jobs to reduce costs - Business Insider

ICYMI: HSBC's plan to cut 10,000 jobs marks its most ambitious attempt to control costs in years:

, leading the bank to question why it has such a large staff in Europe when it is seeing double-digit returns in parts of Asia, per FT's sources.

With such significant cuts, HSBC will need to make sure clients see no interruption in service, and online banking tools could help. A 10,000-employee reduction in headcount has serious potential to impact HSBC's operations, and the bank will need to be sure that its downsizing doesn't affect the quality of its customer experience.

One way to do that is to invest in digital banking tools that can either help preclude the need for human staff or that can empower customers to handle banking needs on their own. For example, investing in interactive voice response systems or chatbots can help scale back the amount of staff that has to be available for customer service functions.Join thousands of top companies worldwide who trust Business Insider Intelligence for their competitive research needs.

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