HSBC to cut up to 3,500 jobs

Banking group HSBC yesterday said it plans to cut up to 3,500 jobs as part of a shake-up of its British banking operation.

HSBC said it would remove or redeploy about 3,500 posts, mainly at its head office or in regional management.

The bank added, however, that it was proposing to create up to 1,000 jobs at its branches.