Exclusive: HSBC to cut up to 300 jobs in UK commercial banking overhaul - source

HSBC has launched a restructuring of its commercial banking business in Britain, a source familiar with the matter told Reuters on Wednesday, resulting in around 300 job losses. The cuts are part of a wider restructuring announced in February, as HSBC seeks to reduce costs globally in an environment where increasing revenues has proved difficult. "In line with the Group strategy announced in February, we continue to restructure and review the roles required to transform the bank," a spokesman for HSBC said.