HSBC Layoffs: Bank to cut half of UK wealth management jobs as AI use expands

HSBC Holdings Plc is planning significant job cuts across its UK wealth management business as the bank steps up its use of artificial intelligence to serve affluent customers more efficiently, according to a Bloomberg report citing people familiar with the matter.The proposed restructuring could see the bank eliminate around half of its management and specialist positions in the UK wealth division, while the number of financial advisers could fall by nearly 70%, the report said. HSBC in consultation over restructuringHSBC…