HSBC reduces US debt markets team by 10%, Bloomberg reports

• At least six New York-based employees were terminated on Thursday as part of the 10% reduction
• The cuts continue HSBC's cost-cutting initiatives tied to a broader business restructuring announced last October
• HSBC did not immediately respond to Reuters' request for comment on the reported layoffs

Summary

HSBC Implements Staff Cuts in U.S. Debt Markets Division

HSBC has reduced its U.S.-based debt capital markets team by 10%, according to Bloomberg News, marking a continuation of cost-cutting measures following a business restructuring announcement in October 2025. The cuts resulted in at least six employees being terminated from the bank's New York office on Thursday, February 19, 2026.

Key Details:

• Reduction size: 10% of U.S. debt capital markets personnel
• Location: New York office
• Timing: Announced February 19, 2026
• Context: Part of ongoing cost-reduction initiative launched in October 2025

Company Response:

HSBC did not immediately provide comment when contacted by Reuters, and the report could not be independently verified at the time of publication.

Market Implications:

The layoffs signal HSBC's continued focus on operational efficiency and cost management within its U.S. investment banking operations. The debt capital markets division plays a crucial role in helping corporations raise funds through bond issuances, making these cuts noteworthy for the bank's competitive positioning in U.S. fixed-income markets.

This development reflects broader trends in the banking sector, where major institutions regularly reassess staffing levels in response to market conditions, profitability targets, and strategic priorities. The cuts specifically target the debt capital markets function, suggesting potential challenges or strategic repositioning in HSBC's U.S. fixed-income business.

Investors and market participants should monitor whether additional restructuring announcements follow and how these changes might affect HSBC's market share in U.S. debt underwriting and advisory services.