HSBC Holdings PLC said Tuesday that it is cutting 1,700 jobs in the U.K., mostly from its collections and credit card operations.
The move came a day after Royal Bank of Scotland Group PLC said that it planned to cut about 3,700 jobs across its retail operations in the U.K.
"It's a fairly broad restructure across the business. Most of the roles are coming from the consolidation of our collections and credit-card operations," a bank spokesman said.
Nine offices across the country that are being used by those two businesses will be consolidated into two offices in Birmingham, England, over the next 12 to 18 months. Some jobs will also be cut in a division that looks after the bank's network of branches in the U.K.
After the cuts, HSBC will have around 40,000 staff in the U.K. It announced 1,200 job cuts in March and 500 in December.
