"Extremely challenging" operating environment blamed
By Jo Best
Published: 26 March 2009 12:45 GMT
More than a hundred IT workers could lose their jobs in HSBC's latest round of proposed redundancies.
The bank, which yesterday revealed more than 1,200 members of staff in the UK could see their jobs cut as part of an operational review, said more than 120 IT positions are at risk.
The threat to IT jobs comes "after a reorganisation, consolidation of tasks and reduction in manual tasks", a spokesman for the bank told silicon.com.
The majority of the 1,200 cuts will fall in processing and operations, as well as finance, human resources and information technology, according to HSBC.
HSBC's UK MD, Paul Thurston, said in a statement: "The operating environment for banks in the UK is extremely challenging and will remain so for some time… there are difficult decisions that have to be made as we adapt to a new environment, and ensure we are positioned for the future."
The redundancies follow a separate round of cuts last September which saw 1,100 staff - among them IT workers - lose their jobs.
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