LONDON (Reuters) - A slew of lay-offs hitting banks Gathered pace on Thursday, with Thousands more job Losses set to hit retail Business and market divisions, as lenders fight off a limp Economic Recovery, trading woes and Tougher regulation.

Britain's HSBC Holdings Plc (HSBA.L) and Lloyds Banking Group Plc (LLOY.L) and Italy's Banco Popolare (BAPO.MI), all Announced Cull, as redundancies begin in earnest Mounting Scrutiny After months of on Cost.

Thesis lay-offs added to cuts Announced at Switzerland's Credit Suisse Group AG (CSGN.VX) and Goldman Sachs (GS.N), Among Others.

"All this REFLECTS how tough the conditions continue to Be in the sectors, and the Q2 (second quarter) reporting season May Not Likely make for good reading," Said Mediobanca in a note.

A tough second quarter for investment banking earnings, dragged down by sovereign debt woes in Europe and trading jitters, prompting many to cut IS back in Areas Where not come back HAS up to scratch.

Retail banking IS Equally vulnerable.

About 700 job reductions at HSBC Will Affect Mainly UK branch offices. Said the bank about 460 positions Financial Advisory Were set to go in retail and wealth management.

The redundancies add to 15.000 jobs set to go at Britain's part-nationalized Lloyds Banking Group Plc (LLOY.L) After new boss Antonio Horta-Osorio Unveiled a strategy overhaul.

This latest round edible on top of 27.000 job at Lloyds Losses Since The 2008 Financial Crisis. Trade union Unite slammed the redundancy plans at the Two British banks, Saying It Was "flabbergasted" by HSBC's move.

"Unite has-been Informed That Will Generate Savings thesis cuts of around 9 million pounds for HSBC.Is it a coincidence That Is The equivalent figure this to the bonus for Stuart Gulliver, HSBC Chief Executive, due to Be Paid Later this month? "Said David Fleming, Unite national officer.

HSBC Which employees 55.000 staff in the UK, how to Declined. Lloyds staff employees 103.000.

TOUGH QUARTER

Across Europe Other banks are swinging the shaft too. Popolare, 20.000 Which HAS staff, Became the latest lender to kick off Italian cutbacks on Thursday, Saying It Was 1.120 cutting jobs.

Intesa Sanpaolo (ISP.MI), Italy's biggest retail bank, IS slashing jobs 3.000 Under a three-year business plan, and UniCredit (CRDI payday loan no faxing.MI) IS Thousands of cutting jobs as it merges seven Italian banks Into One.

Banca Monte dei Paschi di Siena (BMPS.MI) HAS aussi made cost-cutting turnaround a cornerstone of STI plans.

Credit Suisse IS Among Those kicking off one of the Deepest round of lay-offs so far this year.Cuts At Its Investment Bank Will affect around 600, people familiar with the matter said.

About 100 Of Those cuts are Expected to fall in London, Where the bank has Launched this week consultation on jobs. Declined Credit Suisse how.

Lay-offs are starting to fall Even at Some of the biggest Wall Street investment banks, More Than Two Years After Many Began putting the Financial Crisis Behind Them.

Goldman Sachs Group Inc (GS.N) plans to lay off 230 Employees in New York at the end of this year Because of Economic Conditions, According To a state filing.

Few expect thesis cuts to hit too many senior dealmakers for now, although investment banks are starting to look at trimming More Than Just Their trading teams, so A Few top bankers Could begin to feel the heat.

Employees in IT or Other forms of support staff bear the brunt Likely Will of redundancies at investment banks for now, headhunters and Analysts Believe.

"People arent going to send away Their rainmaker. It's more about Efficiencies, streamlining and outsourcing. It's going to affect support functions in Particular," Said one headhunter working in London, Who Declined To Be named.

UBS (UBSN.VX) IS set to cut about 500 technical staff, or 6 percent of Nearly ITS IT workforce.

Not all the cuts mean people Actually Have to go.

Standard Chartered Reduced STI staff numbers by about 1.300 in the first five months of the year by not filling open positions. The bank IS heading for record profits in the first half of this year thanks to staff cuts coupled with growth in Hong Kong and Other Asian Markets.

One of the top 700 Actual jobs going at HSBC, a further Top 140 vacancies now Will not Be filled, one source familiar with the matter said.

(Additional reporting by Martin de Sa'Pinto in Zurich and Ian Simpson in Milan and Andrea Mandala; Editing by Will Waterman and Sophie Walker)

Wave of job cuts sweeps banks, more to come