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Staff uncertainty as HSBC announces hundreds of job cuts

Staff face uncertainty as HSBC announces hundreds of job cuts

24 January 2017

Unite the union has said ‘today (Tuesday 24 January) is a dark day’ for the workforce of HSBC after the bank announced its decision to close 117 bank branches and cut a further 204 IT staff. 

380 job losses leaves hundreds of HSBC staff fearful for their futures. The bank has told its UK workforce that:

  • 117 branches will close leaving 176 employees’ jobs at risk and
  • 204 IT jobs will be cut with the majority of jobs being offshored to teams in India, China and Poland.

Dominic Hook, Unite national officer, said: “Today is a dark day for hundreds of HSBC staff who will arrive at work to be told that they could lose their job as their branch closes or their IT role is cut.

“Unite is deeply concerned that this large branch closure programme will be devastating not only for staff but also for the loyal HSBC customers who will lose their community branch. 

“This announcement comes just days after the disappointing news that Yorkshire and Clydesdale Bank will be shutting 79 branches with 400 job losses. 

“Unite is again calling on the banking industry to rethink such branch culling exercises, which do nothing to reassure customers or staff that banking is accessible and open to all. Without doubt customer service in financial services will suffer if our high streets are left with no local branches. The banking industry must act to prevent confidence in our banking system falling further.”

The IT job losses announced today are a result of the majority of the roles from the UK being offshored to India, China and Poland.

Unite will be pressing HSBC to ensure that there are no compulsory job losses made as a result of the branch closure plans announced today.

ENDS

For further information contact Saba Edwards, Unite senior communications officer, on 07768 693 953.

Notes to editors:

  • Unite is Britain and Ireland’s largest trade union with over 1.4 million members working across all sectors of the economy. The general secretary is Len McCluskey.