Type
Internal restructuring
Country
United Kingdom
Region
Location of affected unit(s)
Sector
Financial Services
Financial And Insurance Activities
Financial Service Activities, Except Insurance And Pension Funding
64.1 - Monetary intermediation

330 jobs
Number of planned job losses
Job loss
Announcement Date
5 December 2011
Employment effect (start)
Foreseen end date

Description

HSBC, a British financial service company, has announced that it is to cut 330 jobs in the UK, mainly from its UK commercial banking arm. Job cuts will also be made in retail banking and wealth and in its technology services. The timeline for the implementation of the cuts is still unknown.

In August 2011, the company had announced to cut 25,000 jobs until 2013 (see here).


Sources

  • 5 December 2011: BBC Website

Citation

Eurofound (2011), HSBC, Internal restructuring in United Kingdom, factsheet number 73207, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73207.