HSBC to announce 2,000 job losses in UK today
26 Apr 2012
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Banking giant HSBC is to announce 2,000 job losses in the UK today as part of its global cost-cutting plans, according to reports.
The bank, which is the biggest in Europe, has a 50,000 strong workforce for its British operations.
Its chief executive, Stuart Gulliver, has already said it would cut 30,000 jobs globally by 2013 to decrease $3.5 billion in annual costs (See: HSBC to slash 30,000 jobs worldwide).
HSBC has not commented on the reports.
Together, the job cuts worldwide work out to almost 10 per cent of HSBC's total global workforce, even as the company has stressed it would recruit staff by 2013.
As against this, job cuts in the UK, if correct, would amount to only about 4 per cent of its British workforce.
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