HSBC has announced 2,217 redundancies as part of a restructuring of its UK business, in a bid to improve efficiency.
It follows 700 job losses announced last June. This time round, 3,167 roles will go, but the creation of new roles will offset this to result in a headcount reduction of 2,217.
The bank has said that the majority of cuts will made in senior or middle-management positions, and IT jobs have not been ruled out.
“All business areas within the bank, as well as most geographic regions within the UK, will be impacted in some way.
“We will now be working with the individuals concerned to help them find alternative roles either within the wider group structure, or outside the organisation,” HSBC said.
The job losses are part of an announcement HSBC made last year, when it revealed that there would be a reduction of 30,000 roles at the company worldwide by the end of 2013.
Brian Robertson, chief executive of HSBC Bank, said: “We have taken the difficult decision to restructure HSBC in the UK in order to reduce layers of management and bureaucracy.
“These changes will enhance our efficiency as detailed in the strategy we announced last May and they will also help ensure our continued profitability in the face of the changing regulatory landscape.”
HSBC said it also hopes to reduce its costs by re-engineering processes and streamlining the bank’s IT requirements as part of the restructuring.
Unite the union said it will "fiercely campaign" against the job cuts.
David Fleming, Unite national officer, said: “Following much speculation it has now been confirmed that HSBC is sending over 3,100 of its staff to the back of the unemployment queue. There is no justification for this awful treatment of staff. How can the bank announce 3,167 staff cuts when it was the workforce that delivered it a profit of £13.8 billion last year?
“The hypocrisy of CEO Stuart Gulliver taking home £8 million, while claiming the bank must cut thousands of staff in order to save money, will not be lost on the workforce."
He added: “Unite will now be meeting with and consulting with its members to plan the next steps in response to this shocking announcement.”