HSBC Says Bank May 'Materially' Raise Staff Pay in 2023

The video discusses the challenges banks face in balancing cost-cutting with inflation pressures. HSBC is considering salary hikes to retain staff, despite having a large workforce compared to Goldman Sachs. This issue is prevalent among major banks in the US and Europe. HSBC's CFO hints at upcoming cost-cutting measures, with some banks already reducing mortgage-related positions due to industry impacts. The video explores how these factors influence compensation strategies.

What are the challenges faced by HSBC in retaining its staff?

How does HSBC's employee count compare to Goldman Sachs?

What measures is HSBC considering to manage costs amidst inflation?

What specific cuts have banks started to implement in response to market conditions?

What impact has inflation had on the banking industry according to the text?