Job losses

Job losses have jumped back into the limelight this month, with the finance sector particularly badly hit.

Two banks announced massive job cuts, with HSBC announcing that 14,000 more jobs are at risk worldwide, and RBS cutting 1,400 jobs in the UK.

The losses at HSBC will include nearly 2,000 in the UK, according to the Unite general union which organises the workforce.

Dominic Hook, Unite national officer, said that “HSBC is making staff suffer in the search for ever greater profits. The bank’s behaviour is a disgrace”.

Meanwhile, the Aviva insurance company is cutting 2,000 jobs with 600 of the lost jobs being offshored to India.