Company/Organisation:
HSBC
Geographic Location
Country:
United Kingdom
Region:
Inner London; London
Location of affected unit(s):
Canary Wharf, Sheffield and Southampton
Company
Sector:
Financial services
Financial and insurance activities
64.1 - Monetary intermediation
Group:
HSBC
Employment Effects
Announcement Date:
08-07-2003
Planned Job Reductions min:
1400
Planned Job Reductions max:
1400
Type of Restructuring:
Internal restructuring
Additional Information
HSBC explained the restructuring plan as an measure in order to ensure the company to remains competitive in the face of weaker economic conditions. The company is hoping to achieve the bulk of cuts through a recruitment freeze, natural staff turnover and voluntary early retirement.
Sources:
08-07-2003The Guardian
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