EMCC European Monitoring Centre on Change



Geographic Location

Country: United Kingdom


Sector: Financial services
Financial and insurance activities
64.1 - Monetary intermediation

Employment Effects

Announcement Date: 05-12-2011
Planned Job Reductions min: 330
Planned Job Reductions max: 330
Type of Restructuring: Internal restructuring

Additional Information

HSBC, a British financial service company, has announced that it is to cut 330 jobs in the UK, mainly from its UK commercial banking arm. Job cuts will also be made in retail banking and wealth and in its technology services. The timeline for the implementation of the cuts is still unknown.

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