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HSBC axes up to 8,000 UK jobs

HSBC has confirmed that it is axing between 7,000 and 8,000 UK jobs - one in six of its staff in Britain.

Up to 25,000 roles are expected to be shed globally, as part of a major cost-cutting and restructuring strategy.

The group also said it will "trim" branches in Britain and rebrand its UK retail banking business, as it prepares to moves its UK head office from London to Birmingham.

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'Frontline staff are being punished for actions of bankers'

Unite has called on HSBC to make any job cuts "voluntary" as it blamed the bank's expected cull of its UK workforce on the misconduct of senior and investment bankers.

HSBC, Europe's largest bank, is expected to slash as many as 8,000 UK jobs as part of a global restructuring initiative.

Unite are seeking to meet with UK chief executive Antonio Simoes as soon as possible to demand that any redundancies are through voluntary means or managed through natural attrition.

After all the scandals of recent years, frontline staff have suffered time and time again as they are forced to pay for the mistakes of others with their jobs, their terms and conditions and their reputation.

– Dominic Hook, Unite national office for finance

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