HSBC Cuts 2,200 Jobs in the UK

HSBC has given confirmation that the company is going to cut over 2,200 jobs in their different offices in the United Kingdom. This move is part of the company’s plan to reduce operating costs all over the world. There are over 3,100 jobs that are being removed however the financial institution said that there are also new jobs that are being created. This strategy will result to having 2,217 cut from their jobs. This has been speculated by many people in the industry. HSBC identified this as a part of the planned 30,000 job cuts that they have to make in all of their branches and offices all over the world. The aim is to save about $3.5 billion of operational costs by the year 2013. According to the national office of Unite, David Fleming, “There is no justification for this awful treatment of staff.