HSBC

Type
Internal restructuring
Country
United Kingdom
Region
Location of affected unit(s)
London, Newport, Leamington Spa, other locations
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
1,200 jobs
Number of planned job losses
Job loss
Announcement Date
25 March 2009
Employment effect (start)
Foreseen end date

Description

The HSBC bank is to make 1200 staff redundant across the UK. The cuts are blamed on the current economic conditions and they will mostly affect back office operations. 280 of the job losses will occur in Leamington Spa, 150 in London while a call centre in Newport will be shut down with the loss of 90 jobs. As of 25 March 2009 no date has been given for the implementation of the cuts.

Sources

  • 25 March 2009: BBC News ()

Citation

Eurofound (2009), HSBC, Internal restructuring in United Kingdom, factsheet number 68611, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68611.