HSBC UK jobs cull won’t hit IT hard


HSBC UK jobs cull won’t hit IT hard

Karl Flinders

IT roles will not be significantly impacted despite HSBC cutting over 3000 jobs in the UK as part of its three year cost cutting plan and the transformation of its wealth management business.

HSBC said it hoped to redeploy about 2000 roles, making the net loss to its 47,000 UK workforce just over 1000.

IT is often hit hard when banks cut costs and jobs, but an HSBC spokesman said whilst some IT jobs would go, it would "ot be a significant part of the cuts.”

In 2011 HSBC announced a plan to axe 25,000 of its global workforce by the end of 2013.

According to recent research by recruitment company ReThink Recruitment new job cuts may finally be coming to an end, as only one in 10 IT directors expected to make layoffs this year. ReThink’s Recruitment annual IT director survey revealed the number of IT directors predicting job cuts at its lowest level in five years.

Read more about banking sector cuts

Citigroup axes 5,000 technology and operations jobs

Barclays bank cuts UK jobs

No end in sight for IT job cuts in banking


Email Alerts

Register now to receive IT-related news, guides and more, delivered to your inbox.
By submitting your personal information, you agree to receive emails regarding relevant products and special offers from TechTarget and its partners. You also agree that your personal information may be transferred and processed in the United States, and that you have read and agree to the Terms of Use and the Privacy Policy.

COMMENTS powered by Disqus  //  Commenting policy