HSBC has announced it is cutting 1,700 jobs in its
retail banking operation but no IT workers will face
redundancy.
The bank is streamlining its branch network and standardising
its processes and systems. "This will also create several hundred
new roles in the coming year," said the bank.
HSBC's retail banking arm employs 40,000 people in the UK.
A spokesman at the bank said the
IT cuts have already been completed.
Ralph Silva, analyst at Towergroup, told Computer Weekly earlier
this year that there would be
fewer IT job cuts in banking.
"Most banks are already have the minimum amount of IT people
they need to operate. Further cuts will come from cutting out
entire departments."