HSBC to cut 3,167 jobs across the UK

The bank will create 950 new positions, keeping the total number of redundancies to 2,217. The cuts are part of a larger plan to slash its global workforce by 30,000 by the end of next year. HSBC currently employs about 52,000 staff in Britain. "The reduction of 3,167 roles in the UK follows the group's announcement last year that by the end of 2013, there would be around 30,000 fewer roles within the bank worldwide," said the bank in a statement. Most of the posts being lost in the UK are in senior or middle management and the bank claims that none of its 1,250 branches would shut. David Fleming, of Unite the union, has spoken out against the cuts: “The hypocrisy of CEO Stuart Gulliver taking home £8m, while claiming the bank must cut thousands of staff in order to save money, will not be lost on the workforce. “Unite is outraged that bank workers serving HSBC customers daily are having their jobs cut which will mean service will suffer. Unite will now be meeting with and consulting with its members to plan the next steps in response to this shocking announcement.”