HSBC is planning to cut up to 10,000 jobs, more than 4 percent of its workforce, as interim chief executive officer Noel Quinn seeks to reduce costs across the banking group, the Financial Times reported on Sunday.

The plan represents the lender’s most ambitious attempt in years to cut costs, the newspaper said, citing two people briefed on the matter. It said the cuts will focus mainly on high-paid roles.

HSBC declined to comment on the FT report.

The bank had 237,685 full-time employees at the end of June 2019, according to its 2019 interim report.