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This story was printed from silicon.com, located at http://www.silicon.com/

Story URL: http://www.silicon.com/financialservices/0,3800010322,39294209,00.htm

HSBC job cuts to hit techies
"Some impacted IT roles..."

By Natasha Lomas

Published: Friday 26 September 2008

HSBC has confirmed IT workers will be hit by the 1,100 job cuts the bank announced on Friday, as fallout from the global credit crunch continues.

The cuts will affect the bank's global banking and markets operation.

A spokesman for the HSBC told silicon.com he could not confirm how many IT roles are affected but added: "There are some impacted IT roles but it's a sort of trimming across the board rather than one particular area."

Another spokesman confirmed the affected jobs are in front and back office operations.

About half of the roles to be cut are thought to be UK-based, with both contract staff and permanent staff likely to be affected.