HSBC plans 1200 UK redundancies
UK headquartered banking group HSBC says that, in addition to the 500 jobs previously announced as lost, a further 1200 will go in the UK.
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Back office and IT are the primary areas affected - suggesting to unions that there is a background shift to offshoring and outsourcing. Unions have also alleged that the total number of reductions will be approaching 3,000 as contracts end and are not renewed and leavers are not replaced.
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