Banking giant HSBC has said it is to cut about 1,100 jobs worldwide due to adverse global financial environment, with about 100 to go from its Hong Kong operations.

HSBC, or the Hongkong and Shanghai Banking Corporation Limited, will cut the jobs from its global banking and market division, which includes investment banking, treasury and trading operations,a spokesperson told Xinhua.

The 100 employees to be dismissed from its Hong Kong operations are mainly members of the support and information technology staff, the spokesperson said.

A senior management member said the bank will decide whether to cut more jobs or not later, based on its performance and judgment of the external environment.

A few people were seen protesting outside HSBC regional headquarters in Hong Kong Friday against the decision to cut jobs at difficult times.

(Xinhua News Agency September 27, 2008)