HSBC is weighing deeper workforce cuts as it explores how artificial intelligence could reshape parts of its operations, Bloomberg reported.
The review is still at an early stage, with no final decision made on the scale or structure of any reductions.
The bank could eventually cut around 20,000 roles over the next several years, according to people familiar with the matter.
Some of the reduction may come from not replacing departing staff, while other changes could result from business sales or exits.
Non-client-facing roles in global service centres are seen as among the most exposed.
The plan, if carried out, would unfold over a three- to five-year period as HSBC reviews how AI could reduce work across parts of its middle and back office functions.
The review comes as Chief Executive Officer Georges Elhedery continues a broader overhaul of the bank.
Since taking over in 2024, he has already cut thousands of jobs while also selling, merging or shutting some businesses. HSBC had around 210,000 employees at the end of 2025.
The reported move also reflects a wider shift across global banking.
Bloomberg Intelligence said last year that banks worldwide could eliminate as many as 200,000 jobs over the next three to five years as AI takes on more tasks now handled by employees.
Chief information and technology officers surveyed by the research unit expected an average net workforce reduction of 3 percent.
At HSBC, the potential cuts would come alongside a broader push to lower costs and improve productivity.
HSBC said recently that it expects to achieve its US$1.5 billion cost-savings target in the first half of the year, six months ahead of schedule.
Speaking at a Morgan Stanley conference on Wednesday, Chief Financial Officer Pam Kaur said the bank sees room to use AI to reduce costs and improve employee productivity.
She pointed to customer service centres, know-your-customer teams and transaction monitoring as areas where the technology could make operations more efficient.
HSBC declined to comment.
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