banking

Barclays to shed 7,000 UK jobs - while it boosts bonuses

Tue, 11/02/2014 - 12:59 -- nick

Barclays Bank is to shed 7,000 UK workers even as it is increasing the bonuses it pays.

The bank, which employs 140,000 worldwide, raised its total bonus pot by 10% in 2013 to £2.38 billion, while upping those in its 'casino' investment arm by 13%.

The company saw pre-tax profit fall from £7 billion to £5.3 billion in the year, and has decided that regular workers will bear the majority of pain for this.

Only 820 jobs will be lost from senior management.

RBS to cut another 1,400 jobs

Thu, 16/05/2013 - 17:36 -- nick

Royal Bank of Scotland (RBS), the state-owned bank, is to cut 1,400 more jobs.

The majority will go at its Edinburgh head office in the retail division.

The company has already lost 35,000 jobs since it needed government money to bail it out in 2008.

It confirmed that no customer-facing roles would be lost.

Ross McEwan, the chief executive of RBS's UK retail operations, said: "To serve our customers well, we have to ensure that our resources are focused on the things that matter most to them.

Lloyds bank to cut 850 jobs

Thu, 09/05/2013 - 19:35 -- nick

Lloyds Banking Group is to cut another 850 jobs on top of 2,750 already announced for this year.

600 of the jobs will go through the closure of an office in Southend, an area that already suffers above-average unemployment.

The bank said it would try to achieve its aim through voluntary redundancies, and make compulsory cuts only "as a last resort", citing the fact that only a third of its 2012 redundancies were compulsory.

Nationwide Building Society to shed 500 jobs

Mon, 06/05/2013 - 12:19 -- nick

Nationwide Building Society is to shed 500 jobs across the country.

The company took over the Cheshire, Derbyshire, and Dunfermline Building Societies during the recession as they developed financial troubles.

But the takeovers meant it had more than one branch in many areas.

The Society is to close around half the 91 branches it took over and rename those remaining as Nationwide outlets.

The jobs will go by 2015.

HSBC bank to cut more than 3,000 jobs

Tue, 23/04/2013 - 17:13 -- nick

HSBC, the biggest bank in Europe, is to cut 3,166 jobs in the UK, it has confirmed.

The majority of redundancies will be in its wealth management division, but it is creating 2,017 jobs at the same time, with the bank estimating a net 1,149 jobs will be lost.

It expects the majority of new opportunities to be filled by those made redundant from the bank.

HSBC cut 2,200 jobs in 2012 due to the economic downturn and need to cut costs, and continuing economic difficulties across the world mean another year of reductions.

Nomura Bank to lose 200 jobs in London

Mon, 24/09/2012 - 23:06 -- nick

The Japanese bank, Nomura, is to shed more than 200 jobs in London following a restructuring of its European operations.

Following its buyout of Lehman Brothers bank in 2008, the majority of Nomura's European employees are based in London.

The loss of jobs could prove embarrassing to Chancellor of the Exchequer George Osborne, who opened Nomura's new office in April last year and described the company as “one of the world’s leading investment banks”.

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