The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64.11 - Central banking
500 jobs Number of planned job creations
Announcement Date
20 June 2017
Employment effect (start)
Foreseen end date
31 March 2018
Description
HSBC has announced plans to create 500 new jobs across Scotland. The bank will add jobs at its call centre in Hamilton, as well as increasing the size of its Edinburgh-based global risk operations. The exact numbers which will be added at each site have not been reported. HSBC already employs 4,000 workers in Scotland and the First Minister Nicola Sturgeon has welcomed the latest announcement as the company seeks to increase its already high profile in the country. The jobs will be brought in over the coming six to nine months.
In 2015, HSBC initiated a large-scale restructuring across its UK operations aiming to cut up to 8,000 jobs. The last batch of branch closures related to this restructuring effort are set to take place in 2017.
Sources
20 June 2017: BBC Website
Citation
Eurofound (2017), HSBC, Business expansion in United Kingdom, factsheet number 91414, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/91414.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
