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Page last updated at 15:55 GMT, Thursday, 3 September 2009 16:55 UK

Bank announces island job losses

A man walks past HSBC's headquarters in Hong Kong
HSBC International said 35 jobs would be affected in Jersey

Jobs will be lost at HSBC International bank in Jersey following a business-wide review, the firm has announced.

Earlier this year, HSBC said that 16 workers on the island were facing redundancy after "assessing the needs of global clients".

The bank has now said 35 employees in Jersey will be affected by "business restructuring" which will see posts go.

A spokeswoman for HSBC International said, where possible, affected employees would be redeployed.

Martin Spurling, chief executive officer of HSBC Offshore Islands, said: "The world has changed in the past six to 12 months and while HSBC remains strongly capitalised and highly liquid, we are clearly not immune to these changes.

"We deeply regret the impact of these changes on some of our people, but we consider the changes essential to ensure our business is operating as efficiently as possible."



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