HSBC cutting over 3,000 jobs, but creating 2,000

HSBC is cutting 3,166 UK jobs, but it added that 2,017 jobs are being created, with most filled by displaced employees.

HSBC has claimed it is creating jobs as well as cutting some positions. Picture: AFP/Getty

• April 2012: HSBC axe 130 Scottish call-centre jobs

However, despite the bank’s claim the changes will lead to a potential reduction of 1,149 roles, the Unite union said more than 2,000 were being axed.

The union said the announcement was a “disgrace” and warned that it had not ruled out balloting its members for industrial action.

A statement from the bank said: “In order for HSBC to better meet the needs of customers who use its wealth management and advice services, the most significant changes are being proposed within the bank’s wealth business. From 1 June, the bank will combine all existing wealth advisers within HSBC’s retail banking business.”

Chief executive Brian Robertson said: “I understand change is always unsettling, particularly for those directly affected. However, I also firmly believe what we are proposing is essential in order for us to fulfil our customers’ expectations.”