HSBC plans to restructure its business after the banking giant said it was "unacceptable" in parts of Europe and the United States.
Noel Quinn, interim chief executive, said plans to improve these sectors are “not enough” and “are accelerating plans to restructure these sectors.”
According to reports, at the beginning of this month, the bank with 238,000 employees planned to lay off as many as 10,000 people.
Quinn said on Monday that there is a possible range of “job cuts”.
He said, "The entire bank has scope to clarify and simplify roles and reduce duplication."
However, Mr. Quinn did not provide any further details of potential layoffs.