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Hundreds of HSBC Employees to Face Job Losses (7 December 2011)

Date: 07/12/2011
Duncan Lewis, Legal News Solicitors, Hundreds of HSBC Employees to Face Job Losses

HSBC Bank is set to axe “hundreds” of employees, a move blamed on the challenging economic environment. The bank claims that 330 jobs will be axed, yet Unite union claims that over 500 jobs will be lost and have described the timing of the bank’s announcement as “disgraceful”.

HSBC has stated that its cuts will affect 232 employees working in its commercial bank. This is said to be the result of the consolidation of its regional structure. Twenty jobs are to be lost in Northern Ireland’s retail bank and 58 jobs are to be axed in the banks’ technology services division.

Joe Garner, who is the head of HSBC’s UK Bank, has announced that the bank was aware of the difficult economic environment and claimed that their decisions were made after careful consideration. Mr. Garner has stated that the bank would make a concerted effort to support employees and will seek to re-deploy as many employees as possible within HSBC.

David Fleming, a national officer for Unite, said that the union has called for the bank to reconsider its job cuts, stating that the announcement will caused considerable unhappiness for employees over the Christmas period. Staff at HSBC has been in constant turmoil since the bank announced that it would cut 25,000 jobs globally in August of this year.

Duncan Lewis’ employment law solicitors provide employees with the legal support they require when facing employment law disputes. The team is able to assist eligible clients under the Legal Help Scheme.

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