Gov't responds to Manx HSBC job cuts

The majority of the 29 total job losses are based on the Isle of Man

Government has responded following the announcement that 28 Manx jobs at HSBC are at risk.

The global banking corporation is making changes to its customer support operations for expat services, merging two teams together which will be run off-Island.

The Department for Enterprise says job losses are 'never welcome', but welcomed the 'significant' advance notice.

Despite the cuts, DfE hopes any workers affected will find alternative employment elsewhere, and adds support is available during the transition.

The Department for Enterprise continues:

"The Department has received assurances that HSBC are supporting colleagues who are impacted by these changes, and understands this restructuring is HSBC’s business adopting their Group model. The Department welcomes the significant advance notice and recognises that HSBC remains a substantial employer within the Island, with other areas of the organisation expanding locally.

"Whilst announcements which result in job losses are never welcome, the nature of a strong economy means skills are in high demand. With the Isle of Man’s robust financial and professional services sector, it is hoped that any individuals ultimately affected will be able to find alternative employment elsewhere in the Island. Through Finance Isle of Man, the Department for Enterprise is available to support both HSBC and affected staff through this transition."