HR jobs at risk as HSBC announces 1,200 back-office redundancies

HR jobs at HSBC are under threat as the banking giant is set to cut up to 1,200 back-office jobs, following an operational review of its business.

Those affected by the redundancies – which amount to about 2% of it 58,000-strong UK-based workforce – will be briefed today.

HSBC managing director Paul Thurston said: “The operating environment for banks in the UK is extremely challenging and will remain so for some time. There are difficult decisions that have to be made as we adapt to a new environment and ensure we are well positioned for the future.

“We deeply regret that these have led to the announcement of redundancies but, as you would expect, we will do everything we can to help and support those of our colleagues who are affected.”

A spokesman for the bank told Reuters it will close an operations centre in Leamington Spa affecting 290 jobs and another in Newport, Wales, affecting 90 employees.

This latest wave of job cuts comes after 500 redundancies were made across its UK operations last autumn.

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