HSBC cuts 134 jobs in Kraków as third round of layoffs hits this year

HSBC conducted its third round of group layoffs in Kraków this year, dismissing 134 employees last week. The bank employs nearly 5,000 people in the city. Employees link the reductions to tasks being transferred to India, with one worker saying staff trained their replacements. HSBC calls it a global restructuring to simplify operations, affecting mainly finance roles, while denying plans to close the Kraków office. The layoffs coincide with reports of HSBC expanding in India, though the company denies a direct connection. Kraków saw nearly 4,500 group layoffs last year and 4,100 in the first eight months of this year.