Today could be the last day at HSBC for some investment bankers at Europe’s largest lender. Chief Executive Officer Georges Elhedery is wielding the knife again, starting his latest round of headcount cuts in Asia, according to people familiar with the matter. Layoffs are expected to begin next week and could last up to several months.

The redundancies will be staggered over several weeks and months, based on performance and to streamline operations.

Some cuts are already under way, but wider layoffs will begin as early as Feb 17, sources said. Read more at straitstimes.com.

HSBC Holdings Plc is set to initiate a new round of job cuts in it’s investment banking division, marking a continued restructuring to streamline operations and reduce costs under CEO Georges Elhedery.

HSBC Holdings Plc is kicking off a fresh round of job cuts at its investment bank as new Chief Executive Officer Georges Elhedery continues his overhaul of Europe’s biggest lender, according to people familiar with the matter.