Council officials left in dark over HSBC job losses

Stirling Council officials were blindsided by job losses announced at HSBC just a few months after engaging in talks with the company on the area’s economic future.

The admission came at a recent full meeting of the council, where councillors discussed the current status of the City Deal.

The City Deal/City Development Framework includes plans for a digital hub in Stirling, seen as an attraction for technology-based businesses.

However, the announcement by banking giant HSBC that it was to close its offices at Castle Business Park in Stirling - where 230 workers are based - in recent weeks was an unexpected blow.

Green councillor Mark Ruskell said:“Given the digital nature of HSBC it is regrettable that there has been job losses. Were HSBC part of the City Deal process?”

Council chief executive Stewart Carruth replied: “The announcement from HSBC was a complete surprise to us. It is regrettable. It would have been useful to know in advance.

“We met with HSBC a few months ago as part of a tour around businesses in the Stirling area. At that point there was no inclination that this announcement was going to come. Whilst it was a very nice conversation there was very little forthcoming from the individual we met from HSBC. We did everything we could while not knowing what was going to happen.”

HSBC, which employs 3,700 people in Scotland, said 26 people would be retained at a smaller office in Stirling. About 100 of the 230 jobs will be relocated to Edinburgh, while 70 IT roles will move to India, China and Poland.

The company has said the move is part of a review of office space and part of the bank’s programme to cut costs by the end of next year.

Stirling MSP Bruce Crawford, however, has said that, while the announcement was a blow to business in the area, he believed it made the case for Government financial support for the transformative Stirling City Deal even stronger and planned to raise it with the Scottish Government.