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HSBC may cut 1,200 jobs

HSBC has said 1,200 of its staff could face redundancy.

The bank which has just approved a £12.5bn rights issue said staff who could be affected by job cuts would be briefed on Wednesday.

A third of the staff cuts are expected to come from back office operations such as call centres.

HSBC cut around 500 jobs from its London head office in December.

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