Following on from the 3 700 job losses which were announced by Royal Bank of Scotland on Monday 2 November, HSBC has revealed plans to reduce its UK workforce by 1 700. The focus will be on its credit card and collections division which will see its nine regional offices cut back to just two.

The Unite Union has attacked the reduction in staff, stating that it would bring the total number of jobs cut by HSBC this year to 4 600 and would also primarily affect staff on annual salaries as low as £14 000.

Source: PA/03.11.09