Unite reaction to over 840 HSBC job cuts
30 June 2011
David Fleming, Unite national officer, said: “Unite is
flabbergasted that HSBC has chosen today to announce over 840 staff
cuts. Earlier today Lloyds announced the long anticipated results
of its strategic review which horrifyingly stated that some 15,000
of its workforce are to be axed and HSBC has decided to bury its
own bad news on the same day.
“Unite has been informed that these cuts will generate savings
of around £9 million for HSBC. Is it a coincidence that this figure
is the equivalent to the bonus for Stuart Gulliver, HSBC chief
executive, due to be paid later this month?
“The workforce being hit by these extensive cuts today were in
no way responsible for the banking crisis, yet it is these staff
many of which are low paid, who are having to pay for the bank’s
recovery. Unite is demanding that HSBC takes every possible step to
avoid any job losses and focus on re-training and redeployment as
opposed to redundancy.”
ENDS
For more information please contact Saba Mozakka, Unite press
office, on 07768 693 953.
