HSBC plans to shed 30,000 staff mainly from its US credit card operations, amid continued fears over the stability of the US economy. Meanwhile, Lloyds is set to downsize by 15,000 staff. UBS, which employs around 65,000 staff worldwide, recently announced it would reduce its headcount by 3,500 in an attempt to save 2 billion Swiss francs by the end of 2013. Also contributing to the spate of job losses in the banking sector are Barclays, who will lose 3,000 staff and the Royal Bank of Scotland who plan to lose 2,000 staff.
More recently, in the US, it was leaked that Bank of America is planning to cut at least 3,500 jobs in the upcoming months, with the possibility of thousands of additional redundancies in the near future.
Paul Arkwright
Publisher
