Banking giant HSBC to shut 69 branches across UK in major shift to online banking
HSBC announces huge cull of bank branches with 69 to shut across UK in major shift to online banking putting 400 jobs at risk
British multinational said it will close 69 bank branches, putting 400 jobs at riskBosses for HSBC, which is based from Birmingham, announced the move today Bank bosses say they will ‘try to replace’ branches with pop-up banks and ATMS
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Banking giant HSBC will shut 69 of its bank branches across the UK, it has today been announced.
The British multinational, which has 7,500 offices in more than 80 countries around the world, says the move will affect around 400 staff.
Bosses for the firm said it would try to replace the affected branches with other banking services, like new ATMs and pop-up banks.
The banking giant, which has its headquarters in Birmingham, is the latest firm to announce branch closures amid a push to online banking.
HSBC head of UK branch network Jackie Uhi said: ‘The way people bank is changing – something the pandemic has accelerated.
HSBC has said it will shut 69 bank branches amid the shift to online banking in a move affecting around 400 staff
‘Our branches continue to support people with their more complex banking needs, but the way we can do this has also evolved, with the addition of banking hubs, community pop ups and continued use of the Post Office network.
‘Rather than a one-size fits all branch approach, it’s an approach built around the way different customers are choosing to bank in different areas.’
The move comes after Barclays closed 65 bank branches over the last 12 months.
The British banking giant shut 63 banks last year, before closing a further two in February this year.
In November last year the Financial Conduct Authority (FCA) revealed that the number of bricks-and-mortar branches of larger banks and building societies offering personal current accounts fell by 267 between April and June 2021, leaving just 5,599 left open in the UK.
This is a breaking news story… more details to follow.
