Household HSBC Watch

24 May 2005 - HSBC bank workers are to go ahead with a 24-hour strike after talks to settle a dispute about pay broke down. The walk-out, which is scheduled for Friday, will be the first major strike at a British bank for 40 years. Union Amicus said a last-ditch meeting had failed to head off the walk-out by thousands of staff. It said 10% of staff were set to receive no pay rise this year and 45% would get less than inflation. Members had voted by 68% in favour of the walk-out in protest at the imposed pay deal which the union says would lead to a wage cut.

According to HSBC Watch, headlines in the U.S. tout ‘HSBC gives workers US$26 million in bonuses.’ If distributed evenly each worker would get US$4906. “Then UK workers are forced to endure as US workers describe vacations, buying jewelry, home improvements and more” said HSBC Watch. “Can you blame them for striking? And don’t forget HSBC paid William F. Aldinger $37 million for three years of ‘work’ with HSBC.” HSBC Watch is a watchdog organization that monitors HSBC for customer complaints and trend analysis.