Thousands of jobs to go at HSBC

Thousands of jobs to go at HSBC

HSBC branch

HSBC has announced a restructuring of its business in the UK, with a cut of 3,167 roles in the UK.

The bank said this would mean 2,217 people will be leaving during the coming months.

This follows the group’s announcement last year that by the end of 2013, there would be around 30,000 fewer roles within the bank worldwide.

Brian Robertson, chief executive of HSBC Bank Plc, said: “We have taken the difficult decision to restructure HSBC in the UK in order to reduce layers of management and bureaucracy.

“These changes will enhance our efficiency as detailed in the strategy we announced last May and they will also help ensure our continued profitability in the face of the changing regulatory landscape.”

David Fleming, Unite national officer, said: “Following much speculation it has now been confirmed that HSBC is sending over 3,100 of its staff to the back of the unemployment queue. There is no justification for this awful treatment of staff. How can the bank announce 3,167 staff cuts when it was the workforce that delivered it a profit of £13.8 billion last year?

“The hypocrisy of CEO Stuart Gulliver taking home £8 million, while claiming the bank must cut thousands of staff in order to save money, will not be lost on the workforce.

“Unite is outraged that bank workers serving HSBC customers daily are having their jobs cut which will mean service will suffer.

“Unite will now be meeting with and consulting with its members to plan the next steps in response to this shocking announcement.”