Union strikes benchmark deal with bank over redundancies

HSBC
has announced a deal with unions to avoid compulsory redundancies following the
bank’s decision to offshore 4,000 jobs.

The
new agreement with banking union Unifi sets up a process to secure redeployment
for those who wish to remain with HSBC and will be managed with the union’s
input at both local and national level.

The
globalisation deal will also give Unifi access to early decision-making
processes and an ability to minimise job losses.

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The
union claims that the plan sets a new benchmark in relation to arrangements for
consultation.

By Michael Millar