HSBC incoming CEO eyes middle management job cuts, Bloomberg says

HSBC Holdings’ incoming CEO Georges Elhedery is weighing plans that could remove layers of middle management, Bloomberg’s Ambereen Choudhury, Harry Wilson, and Denise Wee report. As part of the talks, HSBC could cut the number of country heads operating across its worldwide network, according to people familiar with the discussions. Elhedery is also likely to make changes to the executives and roles that will report to him after he takes the reins next month, the people said.