Household HSBC Watch

Workers at British high street bank HSBC, part of HSBC Holdings PLC, have voted to go on strike in a dispute over pay, the Amicus trade union said. An Amicus spokesman said the strike would take place on May 27, the day of HSBC’s annual general meeting, unless the two sides reach a settlement before then. The stoppage could force some HSBC branches to close, disrupting the group’s UK retail banking operations.

US watchdog organization Household - HSBC Watch, which monitors HSBC because of HSBC’s predatory lending through the former Household International, said the strike is understandable. “UK workers see their US counterparts bragging about $5000 bonuses, HSBC North America pays Aldinger $36 million, and UK workers don’t get a raise. Meanwhile jobs go to India. It should not come as a shock to HSBC” said Household - HSBC Watch.