The headquarters of HSBC bank in London's Canary Wharf financial district in slight morning mist early March 11, 2016.REUTERS/Russell Boyce
LONDON: HSBC, Europe's largest bank, was to begin laying off 850 information technology workers in Britain on May 16, the first big tranche of redundancies under a restructuring plan that will eliminate 8,000 British jobs by the end of next year.
Most of the staff affected were being informed about the cuts on May 16, according to sources who asked not to be identified because they were not authorised to discuss the plans publicly. The employees are based in London, Sheffield, Leeds and Birmingham and all the jobs will disappear by the end of this year, the sources said.
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