HSBC axes 1,700 jobs in the UK

The job losses will come from the retail banking sector, and fall mainly in support services rather than branches, the bank says. The largest culls will be in the credit card and collections departments, which will be reduced from nine offices to just two sites based in Birmingham. The company moved to apease workers by saying it will "several hundred" new roles next year. The move comes in the wake of RBS announcing 3,700 job losses earlier today.