HSBC confirms 2,200 UK jobs to go

Banking giant HSBC has said it is "eliminating unnecessary bureaucracy" as it confirmed more than 2,200 job cuts in the UK.

The bank, which employs 52,000 in the UK, said it would reduce the number of roles by 3,167 but expected just under 1,000 to find positions elsewhere in the company, leaving the rest out of a job.