HSBC is cutting up to 8,000 jobs in Britain and slashing the number of branches as part of huge global restructuring plans. The banking giant - which employs around 48,000 of its 258,000 global staff in the UK - revealed it is axing 25,000 jobs worldwide in a bombshell announcement this morning. It plans to relocate its UK headquarters from London to Birmingham by 2019 and could move its global HQ out of Britain and over to Hong Kong. The bank also intends to close up to 12 per cent of its branches worldwide, with the 1,057 branches in the UK expected to be affected.Europe's largest bank is cutting 25,000 jobs worldwide - 8,000 in the UKUp to 12 per cent of its 1,000 UK branches could also be closedSpeculation mounting it could move its base from London to Hong KongBritish headquarters are set to move from London to Birmingham
In its keenly-awaited strategy update, HSBC added it would make a decision about where to base its headquarters by the end of the year, after announcing recently that it was considering a move away from the _ due to regulatory and structural reforms.