HSBC to close 62 branches in Britain, resulting in 180 job losses

HSBC to close 62 branches in Britain, resulting in 180 job losses
PHOTO: Reuters

LONDON - HSBC said on Tuesday it plans to close 62 branches and fire more than 180 employees marking the end of its branch restructuring programme in Britain aimed at reducing costs.

HSBC said the number of customers using branches for transactions has fallen by about 40 per cent over the last five years, while the number of people making digital transactions has increased.

"This marks the end of our branch restructuring programme,"said Antonio Simoes, chief executive of HSBC in Britain. "We now feel we have the right branch network that complements the other ways in which customers now choose to interact with us."

 

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