Press Release
Union anger at 500 HSBC job cuts
1 December 2008
Unite the union has today (Monday 1 December) branded the decision by HSBC to cut over 500 jobs “a disgrace.”
The news that the bank will cut staff, from across the country, has angered the union that believes that HSBC is merely using the economic downturn as an excuse to make cuts.
Derek Simpson, Unite Joint General Secretary says: “The decision by HSBC to make 500 job cuts is a disgrace. Unite is appalled that this news has been delivered so close to Christmas. The union has seen no business rationale for these job losses. As far as we can see HSBC is simply using the economic downturn as an excuse to make job losses. The bank has again this year reported an increase in half yearly profits and continues to do very well.
“The union has put forward numerous alternative proposals to HSBC, including a voluntary redundancy register, all of which have been rejected. Unite is opposed to any compulsory redundancies.
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