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

3,167 jobs
Number of planned job losses
Job loss
950 jobs
Number of planned job creations
Job creation
Announcement Date
26 April 2012
Employment effect (start)
Foreseen end date


HSBC, a multi-national group that operates in the financial services sector, has announced that it is to cut its workforce by 2217. This will be implemented by making 3,167 people redundant and creating 950 new jobs. Most of the posts being lost are in the senior and middle management.  

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


  • 26 April 2012: The Telegraph


Eurofound (2012), HSBC, Internal restructuring in United Kingdom, factsheet number 73692, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73692.