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Business & Economics

HSBC to cut headcount by almost half at China digital wealth unit

GlobalData
Summary
Nutrition label

79% Informative

HSBC is reportedly trimming its workforce size at Pinnacle , the bank's digital wealth business in China , by nearly half , affecting around 900 employees.

The downsizing will be done through layoffs, natural attrition, and reassignments.

Pinnacle offers insurance and investment products through a digital platform and had around 2,100 employees.

VR Score

75

Informative language

71

Neutral language

74

Article tone

formal

Language

English

Language complexity

60

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

medium-lived

Affiliate links

no affiliate links