The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64 - Financial service activities, except insurance and pension funding
1,200 jobs Number of planned job losses
Announcement Date
25 March 2009
Employment effect (start)
Foreseen end date
Description
The HSBC bank is to make 1200 staff redundant across the UK. The cuts are blamed on the current economic conditions and they will mostly affect back office operations. 280 of the job losses will occur in Leamington Spa, 150 in London while a call centre in Newport will be shut down with the loss of 90 jobs. As of 25 March 2009 no date has been given for the implementation of the cuts.
Sources
25 March 2009: BBC News ()
Citation
Eurofound (2009), HSBC, Internal restructuring in United Kingdom, factsheet number 68611, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68611.
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