11:06 AM EST, 01/16/2025 (MT Newswires) -- HSBC Holdings ( HSBC ) has told employees in its corporate and institutional banking arm to expect lower payouts as part of cost reduction measures amid restructuring, Bloomberg reported Thursday, citing people familiar with the situation.

The company has not made a final decision, but the bonus award in the coming weeks will likely disappoint, the people reportedly said.

The board remuneration committee will make the decisions in Q1 depending on the company's full-year performance, a spokesperson for HSBC ( HSBC ) told Bloomberg.

HSBC ( HSBC ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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