By George Butler
HSBC have announced 595 job losses in Sheffield and Tankersley as part of planned cuts to their IT departments in Britain.
As part of the cost saving measures, HSBC are moving 840 internal IT roles out of the UK and relocating the jobs abroad to India, China and Poland.
Of the 840 jobs, 490 are located in Sheffield and 105 from the data centre in Tankersley, while 30 jobs have been cut in Leeds.
The move comes as the first wave of redundancies to save £3billion by the bank under a new restructure that will see 8,000 job losses in Britain by March 2017.
John Hackett, the chief operating officer of HSBC UK, said: “Sheffield remains a major centre of excellence of our IT operations and will continue to employ more than 2,700 people in Sheffield after these redundancies.”
HSBC, Europe’s biggest bank, is believed to be the city’s biggest commercial employer and has cut almost 20% of their work force in the city with the majority of the redundancies believed to be jobs based at the Griffin House offices in the city centre.
The bank have also announced the closure of four satellite Sheffield bank branches in the coming months, located in Woodseats, Ecclesall Road, Hillsborough and one of the Fargate branches with 14 employees across the branches to be redeployed.
Nick Clegg, MP for Sheffield Hallam, has tweeted: “HSBC job cuts are devastating blow for Sheffield. My thoughts are with those affected.”