HSBC Cuts Over 1,100 British Jobs

Written By Unknown on Selasa, 23 April 2013 | 18.56

HSBC has announced further redundancies in Britain as part of the bank's three year rivival plan.

It said 3,166 positions in the UK would be affected by the cost-cutting exercise - but that just over 2,000 would be redeployed, resulting in 1,149 jobs losses.

It comes after 2,200 UK job cuts a year ago at the bank, which employs just over 47,000 staff in Britain.

The cuts will mainly come from HSBC's wealth management division, as it starts to move advisors to its consumer retail banking business in June.

The head of HSBC Bank, Brian Robertson, said: "I understand change is always unsettling, particularly for those directly affected.

"However, I also firmly believe what we are proposing is essential in  order  for  us  to fulfil our customers' expectations.

"With the banking behaviour of our customers continually evolving we must change our business to  meet  their  needs. 

He added that affected employees would be offered new roles where possible and he was confident "a significant majority" would remain at the bank.

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