HSBC is cutting 3,166 UK jobs as it continues efforts to reduce costs.
The bank said the positions would mostly go from its wealth management division, but that it hoped to redeploy more than 2,000 of the affected staff.
The cuts are part of HSBC’s continuing three-year cost-cutting plan, and follows the loss of 2,200 jobs in 2012.
HSBC, which is Europe’s biggest bank, currently employs more than 47,000 staff across the UK.
The bank said that at the same time as it was cutting the more than 3,000 jobs, it was creating 2,017 new positions, and that it “expected that the majority of these roles will be filled by displaced employees”.
As a result, HSBC predicts that the eventual number of job losses will be reduced to 1,149.
Chosen excerpts by Job Market Monitor
via BBC News – HSBC bank cutting 3,166 UK jobs.
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