HSBC set to lay off 2,200 UK staff
Source: Agencies |
April 27, 2012, Friday
|
Print Edition
Print Edition
HSBC says it may lay off 2,200 employees as it trims its operations in the UK.
The bank said yesterday it will cut 3,167 positions but expects to find jobs elsewhere in the company for about a thousand of those affected. The layoffs amount to 4 percent of its 52,000 employees in the UK.
The bank cited rules which require it to raise more capital and stop giving free financial advice to customers for the cuts.
The Unite union questioned whether a bank which made a net profit of US$16.8 billion last year needed to cut staffing.
The bank said yesterday it will cut 3,167 positions but expects to find jobs elsewhere in the company for about a thousand of those affected. The layoffs amount to 4 percent of its 52,000 employees in the UK.
The bank cited rules which require it to raise more capital and stop giving free financial advice to customers for the cuts.
The Unite union questioned whether a bank which made a net profit of US$16.8 billion last year needed to cut staffing.
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