HSBC agrees offshore labour deal
16 February 2004 | 8231 views | 0
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.