Redundancies made at HSBC

HSBC Bermuda has made several employees in its retail banking section redundant.

The bank declined to say how many staff were made redundant or how many employees the company now has. 

A spokesperson from HSBC told the Bermuda Sun: “We are continuously reviewing our business model, as are most businesses, given the challenging economic environment to ensure we maintain a sustainable business.

“Our goal is to simplify our banking structure in the Branches and enhance our customer experience.

“This new retail banking structure will align roles and staffing levels appropriate to current market demand as well as market growth. To accommodate the new structure, some existing roles will be made redundant and new part-time roles will be created to provide greater coverage during peak periods within our branches.”

The spokesperson added HSBC will also be creating four new sales roles, to help service customers across all locations.

“As always, employees impacted by role redundancies are our priority focus for redeployment. We have had success training and redeploying staff into new roles and will continue to provide these opportunities for our staff whose roles are changing.”