The bank said that the job cut is part of its global cost-cutting plans, under which HSBC plans to lay off more than 30,000 jobs across the globe to save over $3.5bn annually.

The bank recently registered a £13.8bn profit.

The reduction will be concentrated on middle and senior management roles, which will also include hundreds of investment salesmen in various branches.

Last year HSBC cut 7,000 jobs worlwide, which amounted to about 10% of HSBC’s total global workforce, leaving it with 288,000 employees.

The UK job cuts amount to only 4% of its British workforce.