London: Thousands of workers are to be hit by job cuts at HSBC under the British bank’s cost-cutting plans.
The bank said 3,166 UK positions would be affected, but 2,017 people would be redeployed, meaning 1,149 job losses.
The news comes a year after 2,200 of its 47,000 UK jobs were axed, the Daily Express reports.
According to the report, the redundancies are part of a radical three-year cost-cutting plan by Europe’s biggest bank.
The jobs will mostly come from its wealth management division as it moves advisers to its retail banking business.