China and Hong Kong have always been the center of growth and profit for HSBC HOLDINGS $HSBA (+0,01 %) and that the Group will continue to invest and optimize the allocation of resources to continuously optimize its structure in the future, said David Liao, Co-Chief Executive of Asia and the Middle East at HSBC HOLDINGS.
However, Liao did not directly address the layoff plan, but said it would be continuously optimized depending on the impact of different departments on clients.
In addition, the Group's previously announced resource allocation of US$1.5 billion is progressing well, with further resources to be invested in asset management, international integration and capital markets in the future.