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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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HSBC to cut thousands of jobs in the UK

Credit: PA

Thousands of HSBC workers in the UK face losing their jobs after the bank announced it was cutting staff to improve its performance.

It is thought around 8,000 jobs could go in Britain, while 20,000 are at risk worldwide.

The bank confirmed it would be selling its units in Turkey and Brazil and said it was refocusing its business in Asia.

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