Published by Global Banking & Finance Review®
Posted on February 19, 2026
1 min readLast updated: April 3, 2026
Add as preferred source on GoogleBloomberg says HSBC cut 10% of its U.S. debt capital markets team, including at least six roles in New York. The cuts follow an October revamp; Reuters could not verify and HSBC declined immediate comment.
Feb 19 (Reuters) - HSBC cut 10% of its U.S.-based debt capital markets team, continuing to cull costs after announcing a revamp of the business last October, Bloomberg News reported on Thursday, citing people familiar with the matter.
At least six people in New York were let go on Thursday, the report added.
Reuters could not immediately verify the report.
HSBC did not immediately respond to a Reuters request for comment.
(Reporting by Carlos Méndez in Mexico City; Editing by Maju Samuel)
Bloomberg reports that HSBC cut about 10% of its U.S.-based debt capital markets team as part of ongoing cost reductions following a business revamp announced in October.
At least six roles were reportedly cut in New York, according to people familiar with the matter cited by Bloomberg.
Reuters said it could not immediately verify the Bloomberg report, and HSBC did not immediately respond to a request for comment.
The reductions align with broader cost-cutting tied to a recent restructuring aimed at refocusing the bank’s operations and improving efficiency.
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