Jobs at risk as HSBC announces branch closures
Two East Midlands branches of HSBC are set to bite the dust after the bank confirmed plans to cut 27 sites across the UK.
A total of 46 jobs could be axed at ten of the 27 sites.
Jobs are understood to be under threat at the bank’s Bourne branch, while workers in Blaby – the other regional site slated for closure – will be moved to another location.
The firm has also revealed plans to refurbish 49 of its branches this year, with its Corby and Hinckley sites set to benefit from an upgrade.
The group has recently stated a desire to “simplify” and “reshape” its operations.
In its latest results announcement for the year ended 31 December, the company reported pre-tax profits of around £10.3 million – down from £15.3 million in 2018.
HSBC Group CEO Noel Quinn said: “As we pursue our plan to deliver greater value for our customers and shareholders, we will continue to seek to grow the parts of the business where we are strongest. However, given the changed economic environment, we must also act decisively to reshape areas of persistent underperformance, particularly in Global Banking and Markets in Europe and the US.
“We also aim to simplify the Group to accelerate the pace of change and reduce the size of its cost base. This should create a leaner, simpler and more competitive Group that is better positioned to deliver higher returns for investors.”
