HSBC to cut 1,200 UK jobs

Reuters

Wednesday, 25 March 2009

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HSBC might have made headlines with its discounted mortgage, but rival deals can beat it

DOMINIC LIPINSKI/PA

HSBC is cutting about 1,200 jobs in Britain

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HSBC is cutting about 1,200 jobs in Britain as cost-cutting across the battered banking industry continues to force job losses.

HSBC said the operating environment for banks in Britain was "extremely challenging" and will remain so for some time.

Most of the cuts would be in processing and operations.

There will be some losses in finance, human resources and information technology, but no customer service staff in branches will be affected, the bank said in a statement.

A spokesman said the bank will close an operations centre in Leamington Spa, in central England, affecting 290 jobs and another in Newport, Wales, affecting 90 staff.

HSBC cut 500 jobs at its UK banking business in December following a review of the business, and axed 1,100 investment banking jobs in September.

HSBC, Europe's biggest bank, employs about 58,000 people in Britain and 312,000 people globally.

Comments

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markeyb wrote:

Thursday, 9 April 2009 at 09:16 am (UTC)

Once again this just shows how bad the situation has got. We cant protect uk jobs even after we have pumped billions into the banking sector to keep things afloat. Estimates suggest that unemployment is going to hit 3.2 million next year, thats a huge amount of people out of work.

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franchise999 wrote:

Saturday, 16 May 2009 at 01:59 pm (UTC)

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Thanks

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Disgraceful

eccysto wrote:

Sunday, 27 September 2009 at 08:20 am (UTC)

We pump billions of pounds into the banking sector, yet still we find their are job cuts. The banks are utilising money paid in by the the taxpayer (including these now ex-employees), yet still there are job cuts. The poor management of a relative few is having a huge impact on those lower down the chain. Hang your heads in shame.

Retail jobs Newcastle Upon Tyne

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