HSBC conducts third round of layoffs in Kraków

HSBC is conducting its third round of group layoffs in Kraków this year, with 134 employees losing their jobs last week. The company, which employs nearly 5,000 people in the city across finance, operations, risk, and technology, stated that the reductions are part of a global reorganization aimed at simplifying its operating model.

Some employees have linked the reductions to the transfer of tasks to India, noting that the company is expanding its presence there with new branches in cities like Surat. While HSBC officially denies a direct link between the Polish layoffs and its Indian expansion, the company maintains that it has no plans to close its Kraków headquarters.