HSBC will cut 330 jobs in Britain due to "the very challenging economic environment," the global banking giant announced on Monday.
The job cut will mainly come from the commercial banking arm of HSBC in Britain. The bank is also shedding jobs in the retail banking and wealth management and in its technology services.
"Every effort is being made to support impacted employees and redeploy as many people as possible within the bank," said Joe Garner, head of HSBC's branch in Britain.
Britain's largest trade union Unite said the job cut, announced just three weeks before Christmas, is "disgraceful."
The London-headquartered bank said in August it would cut another 25,000 jobs by 2013.
Also on Monday, HSBC was fined 10.5 million pounds (16.5 million U.S. dollars) by British financial regulator for misselling investment products to elderly people in care.
