HSBC to close 117 bank branches

High street bank HSBC has said it is to close 117 bank branches across the UK with the loss of 380 jobs.

The bank said a further 204 IT jobs will be cut with the majority of jobs being offshored to teams in India, China and Poland.

In the East Midlands, HSBC branches in Alfreton, Castle Donington, Horncastle and Syston will be closed.

Francesca McDonagh, HSBC head of retail banking and wealth management for UK and Europe, said: “The way our customers bank with us is changing.

“More customers are using mobile and internet banking than ever before… and fewer people are using branches.

“More than 90 per cent of our interactions with customers are now through our digital channels – an increase from 80 per cent last year.”

The Unite union called the decision “a dark day” for the workforce of HSBC.

Dominic Hook, Unite national officer said: “Today is a dark day for hundreds of HSBC staff who will arrive at work to be told that they could lose their job as their branch closes or their IT role is cut.

“Unite is deeply concerned that this large branch closure programme will be devastating not only for staff but also for the loyal HSBC customers who will lose their community branch.

“This announcement comes just days after the disappointing news that Yorkshire and Clydesdale Bank will be shutting 79 branches with 400 job losses.

“Unite is again calling on the banking industry to rethink such branch culling exercises, which do nothing to reassure customers or staff that banking is accessible and open to all. Without doubt customer service in financial services will suffer if our high streets are left with no local branches. The banking industry must act to prevent confidence in our banking system falling further.”

HSBC also said it will close a further 67 branches before the end of 2017.