HSBC’s historic move to Birmingham is still on despite reports the bank is planning to axe thousands more staff.

National reports claim the global bank plans to make cuts across the world in a bid to reassure shareholders that bosses are focusing on trimming costs.

It is understood that HSBC chief executive Stuart Gulliver will next week set out a target for between 10,000 and 20,000 job losses by the end of 2017 at a presentation for investors.

However, the Post understands it does not impact on proposals to base its UK personal, retail and business bank in Birmingham from 2018.

The business has bought 1 Arena Central ahead of the move and signed a 250-year lease ahead of shifting 1,000 roles from London.

UK-based HSBC is Europe’s biggest lender and employed 258,000 people at the end of last year.

An HSBC spokesperson declined to comment.