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Bank to axe another 100 jobs in Sheffield
MORE than 100 jobs are being axed in Sheffield by HSBC bank, it was announced last night.
A total of 109 jobs will go in the city as part of swingeing cuts across the business nationwide.
HSBC, which employs about 40,000 people in its UK retail bank division, said 1,700 jobs would be lost over the next year.
Sheffield Council leader Paul Scriven called the blow "devastating news" and "a stark reminder that the recession is still with us". He said: "This morning we will be getting a rapid response team into HSBC, to help those affected look at the options available in terms of finding new jobs, building their skills and keeping on the job ladder in what is a traumatic time."
Hillsborough MP Angela Smith said: "I hope HSBC will commit to avoiding compulsory redundancies, and work with the recognised trade unions in handling the situation."
The firm revealed there will be 594 roles lost in Southend, 212 in Southampton, 109 in Sheffield, 80 in Manchester, 40 in Leeds, 32 in Leicester, 17 in Birmingham and seven in London.
The bank said the biggest cuts will come in its credit card and collections operation, which will be reduced from nine regional offices to two sites in Birmingham.
Further losses will occur among branch network back-office staff.
Because some staff work part-time, and in effect share roles, it is thought around 2,200 people could actually lose their jobs as a result of the moves.
HSBC's UK chief executive Paul Thurston said: "Decisions that affect our people are always difficult, but this restructure is an essential part of the streamlining of our business and the migration of activities into centres of excellence around the country."
Union Unite said the cuts brought the total number of job losses at the bank to 4,600 so far this year.
National officer Rob MacGregor said: "The union does not believe this will do anything to improve the company's future performance."
Almost a year ago HSBC announced it was cutting 500 jobs at five regional offices including Sheffield.
HSBC's announcement comes after Royal Bank of Scotland revealed plans on Monday to cut 3,700 jobs across its UK branch network.
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Saturday 26 May 2012
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