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HSBC agrees offshore labour deal

16 February 2004  |  8294 views  |  0 HSBC Sign

HSBC has agreed to work with labour union Unifi to minimise UK job losses as the bank prepares to shift 4000 positions to low-cost offshore centres.

The agreement promises Unifi workers two years' notice of job losses overseas and advance notice of in-company vacancies in the UK. The bank has also earmarked £4 million for spending on advice and counselling services.

HSBC had earlier announced plans to shift some 4000 UK jobs to low-cost overseas call centres in Malaysia, China and India during the next two-and-a-half years.

The agreement with Unifi follows a similar deal struck by union leaders and Barclays Bank early last month.
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