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Exclusive: HSBC to cut up to 300 jobs in UK commercial banking overhaul, source says

Exclusive: HSBC to cut up to 300 jobs in UK commercial banking overhaul, source says

FILE PHOTO: An HSBC bank is pictured during the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., October 19, 2020. REUTERS/Carlo Allegri

LONDON: HSBC has launched a restructuring of its commercial banking business in Britain, a source familiar with the matter told Reuters on Wednesday, resulting in around 300 job losses.

"In line with the Group strategy announced in February, we continue to restructure and review the roles required to transform the bank," a spokesman for HSBC said.

(Reporting By Karin Strohecker and Lawrence White, editing by Sinead Cruise)

Source: Reuters

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