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HSBC cutting 2,200 UK workers
13:46 (GMT+2), Thu, 26 April 2012
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INTERNATIONAL NEWS - International bank HSBC says it expects to lay off 2,200 employees as it slims its operations in the United Kingdom.
The bank announced Thursday that it will cut 3,167 roles but expects to find jobs elsewhere in the company for about a thousand of those affected.
The layoffs amount to about 4 percent of HSBC's 52,000 employees in Britain.
The bank blamed the cuts on regulations which require it to raise more capital and stop giving free financial advice to customers.
David Fleming, an officer of Unite union, questioned whether a bank which made a net profit of $16.8 billion last year really needed to cut staffing.
Source : Sapa
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