HSBC

Type
Offshoring/Delocalisation
Country
United Kingdom
Region
Location of affected unit(s)
Birmingham, Brentwood, Sheffield, Swansea
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64.1 - Monetary intermediation
64.1 - Monetary intermediation
New offshoring locations
India, Malaysia, China
4,000 jobs
Number of planned job losses
Job loss
Announcement Date
17 October 2003
Employment effect (start)
1 January 2004
Foreseen end date
1 December 2006

Description

HSBC plans to move 4,000 call centre and back office jobs to India, Malaysia and some in China. The jobs would be transfered over the next 2,5 years. The reason behind this reorganisation is to remain competitive. These job losses must be added to the 1,400 ones announced in July 2003.

Sources

  • 17 October 2003: The Guardian

Citation

Eurofound (2003), HSBC, Offshoring/Delocalisation in United Kingdom, factsheet number 60127, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60127.