HSBC cutting jobs - "back office workers"

[AlanE]

Ironically they will be hiring more contractors to replace the head count they have just lost which is the nature of how Banks work. Most of the positions advertised now are on a contracting basism especially the regulation related work.
A

[denver2k]

From my experience of the public sector, they are great at announcing staff cuts, implementing them though is a totally different matter.

Last public sector contract I was involved in had an overall goal of cutting the staffing levels by 20% over 2 years, when I left they had actually increased staffing levels by 14%, mainly because they could not get rid of the useless staff due to the unions and had to hire more people to do their jobs

They are still saying they cut staff by 20% though and getting away with it by shuffling job/department titles around and saying all the new hires are because they are now providing new services

at least they are keeping unemployment as low as they can at the expense of taxpayers money BUT its better than paying 12.50/week to scottish smokers...

[Not So Wise]

HMRC are already making some bug cuts with staff - perhaps the Government have figured there may well not be an economy to tax next year.

From my experience of the public sector, they are great at announcing staff cuts, implementing them though is a totally different matter.

Last public sector contract I was involved in had an overall goal of cutting the staffing levels by 20% over 2 years, when I left they had actually increased staffing levels by 14%, mainly because they could not get rid of the useless staff due to the unions and had to hire more people to do their jobs

They are still saying they cut staff by 20% though and getting away with it by shuffling job/department titles around and saying all the new hires are because they are now providing new services

[AlfredJPruffock]

Had me going there - I misread and thought it said HMRC!
There's always hope.

HMRC are already making some bug cuts with staff - perhaps the Government have figured there may well not be an economy to tax next year.

[Coalman]

Had me going there - I misread and thought it said HMRC!
There's always hope.

[DimPrawn]

http://news.bbc.co.uk/1/hi/business/7962833.stm

Europe's biggest bank, HSBC, has said up to 1,200 of its staff in the UK could face redundancy.

The bank said the individuals who could be affected by job losses are being briefed on Wednesday.

HSBC has not received taxpayer support amid the financial crisis, but just approved a £12.5bn ($18.3bn) rights issue to strengthen its finances.

At least a third of the staff cuts will come from back office operations such as call centres, a spokesman said.

An operation centre in Leamington Spa, near Warwick, will lose 280 positions and a call centre in Newport, Wales, will be shut down, and about 150 jobs will be lost in London, HSBC spokesman Tim Pie said.

HSBC cut about 500 jobs from its London head office in December.


I guess this means all IT jobs to India or is it all in India already?