The film was posted on Instagram and later was deleted but determined immediate strong reaction from the HSBC staff. The video was considered as “abhorrent.” They apologized saying “We do not tolerate inappropriate behavior.(…) HSBC would like to apologise for any offence caused.” The six men were on a day out at Teamworks Karting track in Birmingham organised by HSBC. For the Bank this was already an easy decision to take. They plan to make soon cuts in both its retail and investment banking operations personnel. Close to 10% of HSBC’s 266,000 workers will go. The number of UK branches is expected to fall by about 100 from 1,057 now.
