HSBC is trading 3.16% down at $94.50 after reports on October 7, 2026, that it plans sweeping job cuts in its UK wealth-management business.

  • The reported plan would remove around half of management and specialist roles and reduce financial-adviser positions by nearly 70%.
  • Reuters said it could not immediately verify the report.
  • HSBC shares were also reported lower in London that morning; the broader US market was only modestly weaker.