The Hongkong and Shanghai Banking Corporation (HSBC) Bank has announced that it has laid off around 200 of its employees in India across its technology function.
The global financial company has done majority job cuts in Pune and Hyderabad branches across the mid-management level.
The move comes after the bank has given pink slips globally, where thousands of jobs are expected to be cut out of its 2,38,000 global workforce.
HSBC Bank group CEO John Flint has stepped down on August 5, 2019, after serving for only 18 months.
The bank’s spokesperson said in a statement that, “HSBC is continually reviewing the shape of its workforce to ensure it can best serve its customers and other stakeholders.”
As of December 2018, HSBC had 2,35,217 employees, as per its latest annual report.