HSBC Wharf workers face job cuts

By Rob Virtue on September 26, 2008 11:20 AM |

MANY of Canary Wharf's HSBC workers face an uncertain future after the company announced it was shedding 550 London jobs.

The cuts, which total 1,100 worldwide, are being made in the global banking and markets division of the company.

About 450 of that total will be contractors and temporary staff.

Spokesman Malcolm Wallis said the decision was made in "light of the global business economic environment and our cautious outlook for 2009".

Workers at Canary Wharf were told of the news yesterday, September 25.

There will now be a period of consultation over the decision which is set to cut four per cent of the HSBC workforce.

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