HSBC may have come up with a very cunning plan to trim staff costs, which could catch on

HSBC is cutting $3.5bn of costs and eliminating 30,000 jobs. It is doing away with layers and layers of middle management. And now, it's also offering all its UK people who've been on maternity and paternity leave the option to go part time, to take one year unpaid sabbaticals, and to participate a 'priority returner' scheme for anyone who fancies doing something else for five years and then trying to get their job back again.

The stampede is not expected to be enormous. HSBC tells us it's only expecting 300-400 people across its entire UK business to go for the part time working option.

Unfortunately, comparatively few of them are likely to be in the investment bank: the new array of flexible possibilities will only be dispensed to people on UK contracts, and most people in Canary Wharf apparently aren't - even if they work predominantly in London.

Nevertheless, it all seems like a good idea and may be something that ought to be rolled out to the investment bank soon. The notion of 'priority returners' seems particularly apt, and could be a good way of encouraging expensive senior staff to take time out when markets are bad and return when banks can afford them. Just a thought.