HSBC the Latest Failed Bank Using Slop as Excuse for Its Financial Failure
This morning I saw a site stating "HSBC is planning on cutting as many as 20,000 jobs in the near future as the company allies with AI revolution."
Really???
So it's all because a so-called "AI revolution."
Right?
Not because high street banks are offloading the tasks to their customers?
Or closing branches?
Of course those things have NOTHING to do with slop ('hey hi'), they're to do with cheapening and worsening the service (even eliminating most ATMs, then claiming there's "no demand" after the elimination). I wrote some lengthy articles about it last year; some struck a nerve and inspired others to write similar articles. Last week I wrote about how banks issue cards that cost less than a dollar to produce (and look a lot worse than before; they're cheaply made).
When it comes to HSBC, they're so bad that they lose money or lose track of money. It's almost impossible to correct this.
To avoid any remarks that can be interpreted as pertaining to nationality/race I'd sum up by saying: 1) HSBC is failing. 2) HSBC is losing money (both as a business and also losing customers' money). 3) the mass layoffs at HSBC are due to financial difficulties, "hey hi" is a misleading excuse.
HSBC is a really bad bank. It'll get worse after mass layoffs (judgement errors, lack of expertise/manpower etc.) and HSBC cuts will only lead to a cycle of further failures. █