We are still getting details on this matter, and firming up the dates. You get the basic idea, although firm dates and details are forthcoming. This input was submitted via email, and is in the early stages of development:
Since this site is read by many HSBC employees, I hope you’ll print this so everyone can be informed of a scam being set up by senior management.
HSBC Card Services is planning more layoffs. That is a fact. Two weeks ago, all employees received an email stating that the company has modified its severance policy so that, employees let go for “poor performance” can no longer claim severance effective July 1st. This is obviously done as a cost-saving measure in anticipation of layoffs.
However, this is not the scam. Companies have a right to rid itself of poor performers.
The scam is, they’re waiting until after July 15th to do it. What’s happening on July 15th? The Global People Survey. Every year on this date, HSBC asks all employees to complete this survey conducted by an independent accounting firm. The answers to this survey will be fed into a complex formula to generate a “happiness” score amongst staff. Last year HSBC received a score of 67, which was below industry standards. They’re hoping to increase it to 75 this time (employees have been barraged with “Drive to 75″ signs).
If they increase their score, senior management will see this as a vote of confidence. They will further use it as a PR tool to tell the world that HSBC is a great place to work and that employees have strong confidence in senior management.
So this is the scam: They need this survey completed before the layoffs because the layoffs will lower morale, which will lower the score. Senior managers are being paid a bonus based on the score. So they’re delaying layoffs to boost the score while boosting their paychecks. The recession has already reduced many of their pay. So they need to scheme up the craziest scheme to buy that yacht that they’ve been planning.
Therefore I urge all employees to mark the lowest possible score on the Global People Survey. Just do it, and tell your friends. Don’t fall into the scam! Don’t let senior management collect big bonuses only to turn around and hand you or your friends a pink slip. Don’t let them get a decent score and allow them to justify their incompetent management that have hurt thousands of customers and shareholders!!
If you’re a customer and phone into HSBC, please remind the employee to come to this website and read this notice.
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