2,217 employees at HSBC are to be made redundant as part of the companies measure to increase efficiency and reduce costs.

In total 3,167 jobs will go but the creation of new roles will mitigate the permanent loss in job numbers to 2,217. The move comes from an announcement last year, detailing that the company planned to reduce its workforce by 30,000 jobs by 2013. This new announcement of job cuts come on the back of 700 jobs losses announced in June 2011.

A spokesman from HSBC said: “We will now be working with the individuals concerned to help them find alternative roles either within the wider group structure, or outside the organisation.”