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HSBC plans to cut 8,000 jobs in the UK in savings drive

HSBC, Europe&;s biggest bank, is planning to cut 8,000 jobs in the UK as it tries to reduce costs. The bank has 48,000 UK workers and will make cuts in both its retail and investment banking operations. Chief executive Stuart Gulliver said the jobs would go by "natural attrition". Staff turnover stood at about 3,000 annually.