FIFTEEN jobs are to be lost at the HSBC bank’s offshore operations in the Isle of Man, Jersey and Guernsey.
The banking giant announced on Wednesday that it making a further round of redundancies as a part of a three-year cost cutting exercise.
A total of 3,166 positions across the British Isles will be affected but HSBC said just over 2,000 would be redeployed, resulting in 1,149 job losses.
A statement from HSBC Bank International Ltd said the impact in the Crown Dependencies would be ‘relatively modest’. It said: ‘HSBC Channel Islands and Isle of Man will see a relatively modest impact from the announcement made by HSBC in the UK, with a net reduction of 15 roles across the islands.’
The news comes a year after 2,200 UK jobs were axed by the bank, which employs just over 47,000 staff in the British Isles.
These latest cuts will mainly come from HSBC’s wealth management division, as it moves advisors to its consumer retail banking business in June.
Group chief executive Stuart Gulliver has overseen the loss of 34,500 jobs globally – 12 per cent of the workforce – since 2011.
The Unite union in the UK has branded the bank’s behaviour ‘a disgrace’ - and said its members would be balloted over possible strike action.
Spokesman Dominic Hook said: ‘HSBC is making staff suffer in the search for ever greater profits. After making proposals to slash pensions, holidays and sick pay, the bank is now slashing even more jobs. Staff are at the end of their tether and we will be asking them if they are prepared to take part in a strike ballot to oppose this unprecedented attack by this very profitable bank.’
HSBC’s chief executive Brian Robertson said: ‘I understand change is always unsettling. We are doing everything possible to offer impacted employees opportunities from the many newly created roles.”