HSBC Bermuda cuts close to ten jobs

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HSBC Bermuda has made close to ten employees redundant as the bank continues to assess its business model.

According to a statement from HSBC: “As we continue to assess the business and align with target operating models, we have had to reduce a number of roles and less than ten employees have been impacted over the last few days.”

Additionally, there are a number of employees whose roles have significantly changed due to restructuring, the bank said, adding that “we have been able to successfully offer them an alternative role within the business.”

“HSBC Bermuda will continue to work with our employees and redeploy them into new roles and will continue to make accreditation and training a priority to provide opportunities for our staff.”

In February, HSBC closed down its entire facilities management, making 14 jobs redundant, and outsourced the work to the new company, called iFM Ltd, however, since being let go, most of those impacted had found new jobs at the bank or at iFM.

According to a bank official earlier this year, at its height in 2004, HSBC Bermuda employed 1,040 people but its headcount is now down more than a quarter.

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Published Nov 30, 2012 at 8:00 am (Updated Nov 30, 2012 at 12:27 am)

HSBC Bermuda cuts close to ten jobs

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