London: Global banking giant HSBC will cut 330 jobs in Britain due to 'the very challenging economic environment'. The job cuts will mainly come from the commercial banking arm of HSBC in Britain.

The bank is also shedding jobs in retail banking, wealth management and technology services.

“Every effort is being made to support impacted employees and redeploy as many people as possible within the bank,” said Joe Garner, a senior HSBC official.

Britain's largest trade union Unite said the job cut, announced just three weeks before Christmas, was 'disgraceful'.

The London-headquartered bank said in August it would cut another 25,000 jobs by 2013.