Re: HSBC bank to shut UK service centre, cut 182 jobs

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#1071

From: Dr. Jai Maharaj
Date: Fri, 30 Jan 2004 00:54

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In article <1214fb08.0401291418.3e2ce86c@posting.google.com>, 
 ybf@ziplip.com (Your Special Friend) posted: 
> 
> http://in.news.yahoo.com/040129/137/2b79t.html
> 
> Thursday January 29, 10:36 PM
> 
> HSBC bank to shut UK service centre, cut 182 jobs
> 
> LONDON (Reuters) - Britain's biggest bank, HSBC Holdings Plc, said on
> Thursday it would shut a service centre in Sheffield, north England,
> and cut 182 jobs to reduce costs.
> 
> The bank will move the centre's administrative work for its investment
> funds business to nearby Leamington Spa by the end of the year, a
> spokesman said. HSBC already has a centre at Leamington Spa to support
> its stockbroking operation.
> 
> HSBC has been clamping down on costs in Britain. The bank said in July
> it would axe 1,400 head office and regional UK jobs, including a
> separate 150 in Sheffield. In September, it announced the transfer of
> 4,000 British jobs to India.
> 
> If Sheffield workers want to work in Leamington Spa, they are
> guaranteed a job, the spokesman said. Otherwise, HSBC will try to find
> new employment for staff at the bank or provide career advice for
> those who leave.
> 
> "This is devastating news for the staff and their families," said Paul
> Bridge, a negotiator for finance trade union Unifi, in a statement.
> "It's also a double blow for Sheffield as HSBC has already earmarked
> its processing centre for closure."
> 
> HSBC is not ruling out compulsory redundancies.

"not ruling out compulsory redundancies" - ha! 
Talk about mandatory spin.

Jai Maharaj
http://www.mantra.com/jai
Om Shanti

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From: usenet@mantra.com (Dr. Jai Maharaj)
Newsgroups: alt.computer.consultants,alt.fan.jai-maharaj,soc.culture.indian,alt.politics.economics,ba.internet,soc.culture.british
Subject: Re: HSBC bank to shut UK service centre, cut 182 jobs
Followup-To: alt.computer.consultants,alt.fan.jai-maharaj,soc.culture.indian,alt.politics.economics,ba.internet,soc.culture.british
Date: 30 Jan 2004 00:54:31 GMT
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