Thousands hit by job cuts at banking giant

HSBC announced job cuts today, impacting on thousands of its staff, over the "changing nature" of the business

The bank said 3,166 roles were affected, mostly in its wealth management division, but added that it hoped to redeploy more than 2,000 employees into new jobs.

HSBC, which employs more than 47,000 staff across the UK, could not confirm how many Yorkshire staff may be affected.

Chief executive Brian Robertson said: “We are doing everything possible to offer impacted employees opportunities from the many newly created roles, and I’m confident a significant majority will remain with the bank.”

But Unite, which branded the cuts a “disgrace”, said most displaced workers would lack the right qualifications or be based in the wrong area to secure an alternative job with the bank.