IT staff hit by HSBC, Credit Suisse layoffs
Published: 03 Dec 2008 07:30 GMT
IT workers will be among 1,150 staff to lose their jobs at financial giants HSBC and Credit Suisse.
Most of HSBC's cuts will take place at the bank's London headquarters in Canary Wharf, but regional centres, such as Birmingham and Leeds, are also expected to see losses.
The jobs will be shed within two to three months, with the cuts coming on the back of HSBC's decision to pull out of the corporate healthcare brokerage business.
A spokesman for HSBC said: "There will be IT jobs affected. It is part of a broad review of the entire UK business unit, looking at three key areas of head-office personnel, financial services and commercial banking."
"The key objective is to reduce duplication and create efficiencies," the spokesman said.
The spokesman added that it is not possible to confirm exactly where the job cuts will fall until a consultation with staff has taken place.
Credit Suisse is also to cut 650 jobs in the UK, including IT staff, as a result of "market conditions".
In a statement, the Swiss investment bank said the cuts would help it reach "projected staffing levels required to meet client needs".
Credit: IT staff hit by 1,150 job cuts at HSBC, Credit Suisse from silicon.com
Did you find this article useful?
8 out of 8 people found this useful
Digg
Slashdot
Del.ici.ous
Stumble
Reddit
