06:06 AM EST, 02/14/2025 (MT Newswires) -- HSBC Holdings ( HSBC ) is preparing for a new round of layoffs within its investment banking division, as part of CEO Georges Elhedery's restructuring plans, Bloomberg News reported, citing sources familiar with the matter.

The layoffs are set to begin in Asia and will eventually impact employees worldwide, although the specific number of positions affected is still uncertain, the news outlet reported.

Some job cuts are reportedly already in progress within the markets division, but more extensive layoffs are scheduled to begin Monday and will continue in the coming weeks and months.

Elhedery has already downsized his executive committee and expects to finalize the restructuring by June, with additional information planned for the full-year results on Feb. 19.

HSBC ( HSBC ) declined 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.)