The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial / Insurance/ Estate Financial service activities, except insurance and pension funding Monetary intermediation 64.19 - Other monetary intermediation
348 jobs Number of planned job losses
Announcement Date
14 May 2025
Employment effect (start)
1 June 2025
Foreseen end date
31 December 2025
Description
HSBC in France, a subsidiary of HSBC Holdings, provides financial services to businesses and individuals. HSBC has announced the cut of more than 10% of its jobs in France, equating to 348 jobs. The company employs around 3,000 people in France.
The concerned jobs are in support and commercial sectors. This decision is in line with the bank's new strategy under its new general director to pursue economic growth, establish itself in markets with competitive advantage, and prevent further American tariffs. For example, turning and reinforcing the company's presence and activities in the Asian and Middle Eastern markets. The company also sold its insurance activities at the end of 2024 to the mutualist insurer Matmut. It has been assured that Paris is going to stay one of the main platforms for the management of the company's European activities.
Eurofound (2025), HSBC, Internal restructuring in France, factsheet number 202738, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/202738.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
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