A spokeswoman for the bank said that around half of the reduction is likely to come through redundancies while the remainder is expected to result from natural wastage and a recruitment freeze over six months.
lthough a regional breakdown is not yet available, a spokeswoman said that offices in London, Southampton and Birmingham are likely to be affected.
HSBC said the cuts were needed to help it remain ‘competitive’ in the face of tough economic conditions and rising costs including taxes and pensions contributions.
But a statement from the bank said that the decision also reflected the process of consolidating its London offices at its new Canary Wharf site.
taff were told of the decision through a series of meetings with senior managers and offered careers advice and financial planning services.
A confidential telephone support line has also been set up.
t is understood that no jobs in Jersey will be effected.
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