What's Going On With HSBC Stock Today?

HSBC Holdings, plc. (NYSE:HSBC) shares are trading slightly lower in the premarket session on Friday.

The banking giant is reportedly set to unveil $1.5 billion in annual cost savings as part of a sweeping reorganization led by its new CEO, Georges Elhedery, reports Financial Times.

The bank will outline the savings, which come after one-time costs, on Wednesday, February 19, when it presents its full-year results to investors, the report read, citing people familiar with the discussions.

Elhedery's overhaul, announced in October, aims to reduce duplication and streamline operations within the bank, which has struggled with bureaucratic inefficiencies.

Elhedery ...

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