Europe's largest bank HSBC is to axe 2000 jobs, or nearly 4 percent of the 52,000 employees it has in the UK, in a bid to boost profitability and drive down costs, according to multiple media reports.

The move is said to be part of the global job cull programme that HSBC announced in August last year, which aims to cut 30,000 jobs by 2013.

HSBC was unable to comment when contacted by the IBTimes UK.

At 1300 GMT the HSBC share price stood at 554.2p, marginally outperforming the FTSE 100 with a rise of 0.13 percent.