How is AI changing HSBC's workforce, including in the US?
HSBC is training its staff on AI while its headcount falls. Group full-time equivalent staff were 220,861 at the end of 2023, 211,304 at the end of 2024 and 208,720 at the end of 2025, per the Annual Report and Accounts 2025; HSBC USA Inc., the US holding company, reported 1,948 employees at December 31, 2025, down from 2,106 a year earlier. At its May 2026 Asia seminar HSBC said FY25 brought about 4.4k net fewer FTE outside technology while technology FTE rose by about 1.8k. On training, the AI Academy, launched in 2024, had 26,000 colleagues complete over 122,000 hours of learning in 2025, and the group piloted an AI Ambassador mentorship program; 88% of colleagues had AI productivity tools by May 2026. On jobs, Reuters reported on March 19, 2026, citing Bloomberg, that HSBC was weighing cuts that could ultimately affect around 20,000 roles, and on October 7, 2026 an FT report said about half of management and specialist roles in UK wealth could go. CEO Georges Elhedery told investors on May 20, 2026: 'We all know generative AI will destroy certain jobs and will create new jobs', and said his mission was to give 200,000 colleagues 'the capabilities, the training, the tools to make themselves future-ready'. HSBC has not said how many US roles AI will affect.[1][2][3][4][5][6][7][8]
Data as of Oct 31, 2026 · HSBC profile updated Oct 19, 2026 · 22 sources cited on this page · 141 banks profiled on this site · Markdown
How has HSBC's headcount changed as it adopted AI?
Group figures are full-time equivalent staff at December 31; HSBC USA Inc. figures are employees of the US holding company as stated in its 10-K.
| As of | Group FTE | HSBC USA Inc. employees | Source |
|---|---|---|---|
| December 31, 2023 | 220,861 | 2,040 | Annual Report 2025; 10-K for 2023[1][9] |
| December 31, 2024 | 211,304 | 2,106 | Annual Report 2025; 10-K for 2024[1][3] |
| December 31, 2025 | 208,720 | 1,948 | Annual Report 2025; 10-K for 2025[1][2] |
| FY25 change | About 4.4k net reduction in FTE excluding technology; technology FTE up by about 1.8k | Not broken out | Asia seminar deck, May 2026[4] |
What has HSBC said and been reported to plan on AI and jobs?
| Date | Who / what | What was said or reported |
|---|---|---|
| March 19, 2026 | Reuters, citing Bloomberg News | HSBC weighing cuts over the coming years that could ultimately impact around 20,000 roles, or about 10% of its total workforce; non-client facing roles in global service centers most affected; no final decisions made[5] |
| May 20, 2026 | Georges Elhedery, Asia seminar | 'We all know generative AI will destroy certain jobs and will create new jobs'; 'I need 200,000 colleagues with us on this journey'[7][8] |
| May 20, 2026 | Georges Elhedery, Asia seminar | Staff should be 'not fighting us, not disenfranchised, not anxious, overwhelmed'; 'It's on them to use these tools and be future-ready'[7][10] |
| August 17, 2026 | Stuart Riley, Group CIO | 'I anticipate that within the near future every employee will be using AI in their daily activities'[11] |
| October 7, 2026 | FT report via Investing.com | UK wealth job cuts: about half of management and specialist roles could go and financial advisers may fall by about 70%; affected employees expected to leave at the end of October[6] |
How does HSBC train employees for AI?
The AI Academy, launched in 2024, offers technical pathways by role and level of AI involvement and covers AI literacy, responsible AI and AI ethics, with badges for completion. In 2025, 26,000 colleagues completed over 122,000 hours of AI Academy learning, and HSBC piloted an AI Ambassador mentorship program. Across all subjects colleagues logged 5.6 million training hours in 2025, or 26.8 hours per FTE, down from 6.2 million and 29.6 hours in 2024.[1]
Tools come with the training: 88% of colleagues were enabled with AI productivity tools and more than 37,000 engineers with AI-enabled coding assistants as of May 2026, and Microsoft said in July 2026 that HSBC had committed to 200,000 Copilot seats.[4][12]
In the US, the 10-K says HSBC University helps employees develop technical, role-based and personal skills and that leaders and model developers are trained on the ethical use of big data and AI. It names AI among sources of 'scarcity of specialist expertise'. New AI hiring is mostly outside the US: the Singapore Global AI Centre of Excellence plans to hire more than 100 AI specialists.[2][13]
What does the HSBC profile record on this topic?
The rows below are the entries of the HSBC AI strategy profile that bear on this page, as of Oct 19, 2026; the profile holds the full record of 34 dated moves, 16 use cases and 53 sources.
| Use case | What the record shows | Status | Source |
|---|---|---|---|
| AI coding assistants for 30,000 engineers | About 31,000 engineers have an AI coding assistant; the CEO reports ten-times-faster vulnerability patching over 12 months. | In production | [14][15] |
| Microsoft 365 Copilot | HSBC committed to 200,000 seats, per Microsoft's CEO on 29 July 2026. | Rolling out | [12] |
| Date | Move | Detail | Source |
|---|---|---|---|
| Oct 7, 2026 | US entrepreneur survey: 63% expect AI to raise headcount | HSBC's Global Entrepreneurial Wealth Report finds 94% of US respondents (198 of 3,085) have changed or plan to change operations because of AI. | [16] |
| Oct 2, 2026 | New York hire to lead tech banking and finance US AI buildout | Reuters reports HSBC hired Paras Jain, to be based in New York, as global head of TMT as it seeks to finance AI infrastructure in the United States; he starts in November. | [17] |
| Sep 22, 2026 | Investment in Promenaut; agent orchestration goes live | Chief AI officer David Rice joins Promenaut's board after an HSBC investment; the agentic-workflow platform runs business-case evaluation and pre-coding steps in the software delivery lifecycle, with permissions, audit trails and human-in-the-loop controls. | [18] |
| Jul 29, 2026 | Microsoft says HSBC committed to 200,000 Copilot seats | Satya Nadella names HSBC on the fiscal fourth-quarter 2026 call as committing to 200,000 seats to accelerate its workforce transformation. | [12] |
| Jul 27, 2026 | Global AI Centre of Excellence in Singapore | HSBC plans to hire more than 100 AI specialists to work with chief AI officer David Rice, starting with agentic treasury, wealth conversations and AI-enabled payments. | [13][19] |
| Apr 2, 2026 | CEO: 170,000 colleagues on gen-AI tools, use 'not optional' | In a Bloomberg interview transcript HSBC published, Elhedery cites more than 100 gen-AI cases, about half in production, 30,000 engineers on gen-AI and ten-times-faster vulnerability patching. | [15] |
| Apr 1, 2026 | 20,000 AI-linked job cuts reported | American Banker, citing Bloomberg: an AI-driven multiyear restructuring that could cut about 10% of the global workforce. | [20] |
| Mar 19, 2026 | Deep AI-driven job cuts weighed | Bloomberg: the CEO bets on AI to shrink middle and back offices over several years. | [21] |
| Feb 25, 2026 | Gen AI named the biggest technology investment | 85% of employees have gen-AI tools; 50 processes being redesigned; contact-centre tools rolled out. | [22] |
| Feb 24, 2026 | 2025 results deck quantifies the gen-AI programme | About 85% of employees enabled with a gen-AI tool, 31,000 engineers with an AI coding assistant, more than 1,000 relationship managers on a wealth AI platform, and a net FTE cut of about 4,400 outside technology in 2025. | [14] |
How many employees does HSBC have?
208,720 full-time equivalent staff at December 31, 2025, per the group's Annual Report and Accounts 2025, down from 211,304 a year earlier and 220,861 at the end of 2023. HSBC USA Inc., the US holding company, reported 1,948 employees at the same date; other HSBC staff in the US work for group entities not counted there.
Is HSBC cutting jobs because of AI?
HSBC has not announced an AI job-cut number. Reuters reported in March 2026, citing Bloomberg, that the bank was weighing cuts that could affect around 20,000 roles over several years, and an FT report in October 2026 described deep UK wealth cuts tied to AI. Elhedery said in May 2026 that generative AI 'will destroy certain jobs and will create new jobs'.
How does HSBC train employees on AI?
Through the AI Academy, launched in 2024, which 26,000 colleagues used for over 122,000 hours of learning in 2025; group-wide mandatory training covering responsible AI; an AI Ambassador mentorship pilot; and HSBC University. HSBC USA's 10-K adds training for leaders and model developers on the ethical use of data and AI.
How many HSBC employees use AI tools?
88% of colleagues were enabled with AI productivity tools as of May 2026, based on staff and contractors with access, and more than 37,000 engineers had AI-enabled coding assistants. Microsoft said in July 2026 that HSBC committed to 200,000 Copilot seats. No US-only figure is published.
Is HSBC hiring for AI in the US?
Yes. BankingNewsAI's read of HSBC's US careers listings on October 27, 2026 found 12 AI roles, including AI platform engineering, a GenAI agent platform engineer and AI agent engineers in data and analytics; the current list is on the HSBC USA profile and at /banks/ai-hiring. Postings change weekly, so they are not cited as sources.
- HSBC Holdings plc Annual Report and Accounts 2025
- HSBC USA Inc. Annual Report on Form 10-K for the year ended December 31, 2025
- HSBC USA Inc. Annual Report on Form 10-K for the year ended December 31, 2024
- A growing, high-returning HSBC: Asia seminar for investors and analysts (Group CEO and Group CFO presentation)
- HSBC weighs deep job cuts as AI overhaul unfolds, Bloomberg News reports
- HSBC plans deep job cuts in UK wealth management amid AI push, FT reports
- Asia Seminar for Investors and Analysts: Group CEO Introduction (transcript, 20 May 2026)
- HSBC CEO says AI will destroy and create new jobs, urges staff to embrace change
- HSBC USA Inc. Annual Report on Form 10-K for the year ended December 31, 2023
- Don't fight AI, HSBC CEO tells staff as banks begin job cuts
- Transforming HSBC with AI (content last updated 17 August 2026)
- Microsoft Fiscal Year 2026 Fourth Quarter Earnings Conference Call transcript
- HSBC to establish Global AI Centre of Excellence in Singapore
- Annual Results 2025 Fixed Income Investor Presentation
- Georges Elhedery on the future of HSBC and AI (video transcript)
- US Entrepreneurs Turn to AI to Drive Growth and Hiring, HSBC Study Finds
- HSBC hires Cantor's Paras Jain to lead global TMT banking, sources say
- Agent workflow platform Promenaut goes live at HSBC
- HSBC to Hire 100 AI Specialists as Bank Sets Up Singapore Center
- Bankers say AI is not eating jobs, yet
- HSBC Mulls Deep Job Cuts From Multiyear AI-Fueled Overhaul
- HSBC names generative AI a leading investment area
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