HSBC to cut more than 800 jobs in UK

HSBC, one of the largest financial groups in the world, today announced that 840 jobs in IT will be transferred by the end of the year, of which at least 600 currently employed at Sheffield. These relate to a part of the cutting surface of 8,000 workers in the UK, announced in June 2015.

"As part of a global redeployment plan, approximately 840 workstations without direct contact with customers will be transferred from the UK to other sites in the world," said the CEO of HSBC for Britain John Hackett, in a statement.

The financial institution has introduced last year a restructuring plan over three years. This provides for a reduction of its international network and closing deemed inefficient activities. In total, it could result in the abolition of one in five in the world and one in six in Britain. Hackett, also added: "We are in advanced discussions with Sheffield City Council about investing in a new office building, and will continue to employ more than 2,700 people in Sheffield after these redundancies."