HSBC said it plans to cut 300 jobs at HSBC Transaction Services GmbH in Germany and 20 jobs at HSBC Service Company Germany GmbH by 2028. This stems from HSBC's organizational streamlining plan announced in October 2024. Previously, the bank had sold private banking business in Germany and reached an agreement to divest the escrow and deposit business and the International Investment Company (INKA). Currently, HSBC customers in Germany will not be affected.

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