HSBC cuts 500 jobs in UK: Union Outraged

HSBC (LON:HSBA) announced today that 500 jobs will be going across the UK, although they did state that none of the job losses will be customer facing.

The bank had also said that the some employees that are affected by the job cuts may be offered alternative roles within HSBC, Europes largest bank by market value.

Back in September, due to the global financial crisis HSBC announced they would be cutting around 1,100 jobs worldwide, with the economic outlook continuing to look gloomy they have had to take action. However Trade Union Unite have expressed their views saying that they are appalled that the job cuts are so close to Christmas.

Joint leader of Unite, Derek Simpson, said that they see no business rationales for these job cuts.

Source: BBC