Exclusive-RBC bankers fear layoffs as pledge to keep HSBC staff nears end, sources say

Some Royal Bank of Canada employees who joined as part of an HSBC Canada acquisition are worried about losing their jobs when a six-month guarantee expires this month, according to six sources familiar with the situation. The Canadian lender agreed with the government to keep about 3,000 former corporate HSBC staff employed for six months as a condition of its C$13.4 billion acquisition of HSBC’s Canadian business, which closed at the end of March. RBC told Reuters it found roles for nearly 80% of HSBC Canada’s former workforce of 4,500 people.