01:21 PM EDT, 05/30/2025 (MT Newswires) -- HSBC ( HSBC ) is closing a division that serves small and midsize firms in the US, The Wall Street Journal reported Friday, citing a company spokesperson.

The bank laid off 40 employees earlier this week and informed around 4,400 clients, mostly domestic companies with annual revenue of up to $50 million, the report said, adding some clients will continue with HSBC ( HSBC ) but will be moved to other teams.

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

(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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