Isle of Man News - POSTED Thu 26-04-2012

Job losses at HSBC

by Manx Radio

Job losses at HSBC

Ten posts at HSBC in the Isle of Man and Guernsey are facing closure in a major restructuring by the bank.

The news has been confirmed by Chief Executive for HSBC in the Channel Islands and Isle of Man Nick Winsor.

Ninety staff jobs in Jersey, the centre of operations for the Channel Islands and the Isle of Man, are also impacted.

HSBC has announced more than 2,200 jobs are to go across the UK in the coming months, as part of 30,000 job cuts the bank is making world-wide.

The majority of those affected are in senior or middle management roles.

HSBC says it's reducing costs by streamlining IT and eliminating unnecessary bureaucracy.

The bank uses the term 'job impacts' as although some jobs will be cut, others are being created.

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