The biggest impact is expected at the London head office, Leeds, Birmingham, Sheffield and Chester.

Unite attacked the announcement as a "disgrace", especially coming so close to Christmas.

Joint leader Derek Simpson said: "Unite is appalled that this news has been delivered so close to Christmas.

"The union has seen no business rationale for these job losses. As far as we can see, HSBC is simply using the economic downturn as an excuse to make job losses."

Unite said the bank had reported an increase in half-yearly profits recently and continued to do "very well".

It said it would oppose any compulsory redundancies.

HSBC confirmed it will reduce its UK workforce by around 500 following a review of the business and "current economic conditions".

Managing director Paul Thurston said: "As you would expect of any successful organisation, we continually review our business to ensure it is operating efficiently. In the past two months we have looked hard at our business, focusing on removing duplication, managing costs and devoting resources to areas that offer the most potential for growth.

"The environment in which we operate changes constantly and HSBC has a duty to our customers, shareholders and staff to ensure that our organisation reflects and reacts to these changes.

"We deeply regret taking this step, but we consider it essential to ensure our business is operating as efficiently as possible and that we are best placed to deal with the economic downturn and maintain our levels of customer service."

HSBC said no retail customer-facing staff in branches or call centres would be affected.