By Iain Withers and Lawrence White . HSBC is seeking to reduce costs globally in an environment where increasing revenues has proved difficult. How do you bring in... You happen to have worked mostly with large organisations. Friendly and jolly Niti Khosla, lead-people analytics and business impact, Novartis International, is a true HR leader with the ability to understand people and... © 2020 India's most read website on Human Resources, Jobs & Career. As part of this cost-cutting exercise and endeavour to streamline operations, the Bank will cut about 35,000 jobs globally over the next couple of years. 0. CREDIT: Twitter. Betrayed by BT: Individual redundancy injustices that unmask management’s lost moral compass Communication Workers Union (CWU) (Press Release) 14:07 12-Jan-21. In the last five years, it is reported that HSBC has witnessed a fall in the number of customer visits to its branches. 21st January 2020 – (London)  HSBC plans to cut up to 340 manager jobs as part of a shake-up of its branch network in Britain, a source familiar with the matter told Reuters. The bank announced on Tuesday it was axing 82 branches across the country and would cut services in others, including stripping out some counter services. HSBC said it would go “further and faster” on its cost-cutting programme and flip its business model to seek more income from fee-based units as profits slid by 36% in the third quarter to $3.1bn. HSBC, which is part-way through a massive overhaul to slash costs and improve shareholder … The group employs about 40,000 staff in the UK. However, the source said the closures would result in up to 340 manager roles in branches being cut, with hundreds more junior staff not included in the numbers of layoffs asked to relocate instead. LONDON (Reuters) - HSBC plans to cut up to 340 manager jobs as part of a shake-up of its branch network in Britain, a source familiar with the matter told Reuters. Hundreds of junior employees may be relocated. Image: HSBC is expected to announce a further round of job cuts later this month as part of a strategic review. How to choose the best hospital to deliver your baby? HSBC announced plans to cut around 35,000 roles, or 15% of its global workforce, at the start of the year before Covid-19, following a 33% slump in profits in 2019. “Archaic HR processes force millennials to switch jobs often,” Niti Khosla, lead people analytics... Efforts on to generate employment in MP and AP, How to up productivity during festive months, How to increase effective salaries with no additional cost, Productivity linked bonus approved for railway employees by union cabinet, Ten lakh jobs at risk in the Indian auto components industry. Syndicated Content. However, the layoffs were resumed in October. Those came after the retailer announced 2,500 UK job cuts earlier in 2020. Because of the pandemic, banks across the world have had to resort to reducing expenses and investing in digital technology. Support HRKatha. Value our content... contribute towards our growth. image/svg+xml. HSBC, which is part-way through a massive overhaul to slash costs and improve shareholder returns, said at the time it would aim to redeploy staff affected. HSBC to cut up to 10,000 jobs in drive to slash costs: FT. Posted: (22 days ago) HSBC could announce the beginning of the latest cost-cutting drive and job cuts when it reports third-quarter results later this month, the FT said, citing one person briefed on the matter. 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