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HSBC: jobs should not be lost in Island

HSBC says massive job cuts announced today (Monday) should not affect staff at its Isle of Man Branch.

The bank's confirmed it'll make up to 30,000 redundancies worldwide by 2013, as part of a major restructuring exercise. It's currently in the process of shedding 5,000 of those positions.

HSBC, which has a branch in Douglas, says most of the jobs will go outside its UK region, which includes the Island.

The banking giant chalked-up a profit in the first half of the year of £7 billion - up three per cent on the same period last year.

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