Banking giant HSBC cut the amount of training offered to staff last year by more than 15%, its latest sustainability report has revealed.
The level of classroom and online learning and development training given to staff fell from an average of 43 hours per employee in 2007, according to the 2007 CSR report, to 36 hours in 2008, a cut of seven hours each or 16%, according to the 2008 report out last week.
The group also said it would aim to provide half of all learning and development courses offered online by the end of 2009, up from 30% in 2008.
However, the bank said the increased use of e-learning would guarantee all staff throughout the world received consistent corporate messages.
“Plans include a further significant increase in the use of e-learning group-wide, including utilising our global learning network to improve the effectiveness of e-learning,” the report said. “This increased use of e-learning will bring significant benefits to the business, including consistent quality of delivery.”
The company employs more than 300,000 staff around the world, including more than 50,000 in the UK. It cut 1,200 UK jobs in March following an operational review of its business.