HSBC expected to shed 2,000 UK jobs

HSBCBanking giant HSBC is this week expected to announce some 2,000 UK job cuts as part of a restructuring of its global business.

The axe is expected to fall on nearly 4% of the bank's 52,000-strong UK workforce in a drive to slash costs and help the business react to the tougher climate in the banking industry, including plans for more regulation.
The cuts are part of plans announced by chief executive Stuart Gulliver last year to slash 30,000 jobs, or 10% of the bank's global workforce, by 2013.

The expected announcement would mark the first time the bank has said how the drive will affect its UK business, where it has some 1,290 branches.
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