HSBC, Europe’s biggest bank, is planning to cut 8,000 jobs in the UK as it tries to reduce costs.
The bank has 48,000 UK workers and will make cuts in both its retail and investment banking operations.
Chief executive Stuart Gulliver said the jobs would go by “natural attrition”. Staff turnover stood at about 3,000 annually.
A total of 25,000 jobs could be axed globally, meaning close to 10% of HSBC’s 266,000 workers will go.
The bank will also rebrand its UK High Street branches but is yet to decide on a new name.
Options could include reviving the Midland Bank brand, which it bought …Read More
Source:: New Mail
