HSBC Redundancies 2025: What Your Rights Are
Last updated: 1 September 2026
HSBC has announced a group-wide cost-reduction programme that news reports say is falling hardest on its UK head office and management layers.
What has been publicly announced
HSBC is reported to be targeting around $1.5bn (about £1.2bn) in cost savings by the end of 2026, with senior manager and head office roles most exposed and the UK head office described as facing the greatest impact.
Source: Express & Star, 20 February 2025.
This page reports only what has been publicly announced, with a source and date against every claim. It does not suggest HSBC has acted unlawfully, and nothing here should be read as a comment on the merits of any individual case.
Personally affected by HSBC?
Where are you in the process?
Choose the closest option. We will take you to the relevant questions, with no obligation to proceed.
Your rights in a redundancy at HSBC
HSBC's situation does not change the statutory rules that apply to any UK redundancy: our redundancy consultation guide covers collective consultation and protective awards, and redundancy vs settlement agreement covers how a settlement agreement interacts with a redundancy exit, including the independent legal advice you are entitled to have your employer pay for.
What you are entitled to regardless of what HSBC offers
Whatever HSBC ultimately offers, if you have at least 2 years' continuous service with HSBC you are entitled by law to statutory redundancy pay (a week's pay per full year of service, more for older employees, less for younger ones, capped at £751 a week and 20 years' service for 2026/27, a maximum of £22,530), your notice period or pay in lieu, accrued but untaken holiday pay, and a genuine consultation process, regardless of anything HSBC negotiates on top.
The most recent public reporting on this HSBC programme is dated 20 February 2025; nothing since has changed the statutory floor above, which you can work out for your own age, service and pay with our redundancy pay calculator (see also being made redundant: what happens next).
We have not identified a publicly sourced enhanced redundancy scheme specific to HSBC. If your offer states an enhanced multiple, your adviser checks it as part of the settlement agreement review below.
What to check before signing
Before you sign anything, work out what you are owed regardless of any negotiation, and what is genuinely on the table. These guides cover the detail:
Sources
- Express & Star, 20 February 2025.
Disclaimer
This page provides general information about a publicly reported workforce situation. It is not legal, tax or benefits advice, and your position depends on your own facts. We are not connected to HSBC; its name is used only to identify the publicly reported situation. Sources and dates are given for every factual claim above. For advice on your own circumstances, speak to a qualified adviser. Law as at 1 September 2026.