In an attempt to cut costs, Europe’s biggest bank HSBC wants to cut 8,000 jobs in the United Kingdom.
The job cuts will be across the bank’s retail and investment operations.
In a public statement, HSBC’s CEO Stuart Gulliver was quoted saying that the jobs would go by what he calls “natural attrition”.
It is expected that the cuts will affect about 25,000 jobs in total.
It was also announced that the bank plans to rebrand its High Street branches although they are still deciding on a new name.
According to the bank’s CEO they want to make sure that customers can make a distinction between the bank’s retail and investment branches.