Household HSBC Watch

In a recent press release HSBC said:
“HSBC was the first international bank in the UAE to present its UAE national employees working in the Network Service Centre with ‘My Vision - challenges in the race for excellence,’ book written by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister of UAE and Ruler of Dubai. This initiative was taken by HSBC for its believe in the importance of investing in the human capital. The book will reinforce the principles required for high performance and outlines ethics of success for employees. It will act as a catalyst to contribute to the growth of their country. The book presents the vision of HH Sheikh Mohammed which is vividly reflected in the tremendous success of Dubai.”

In a dose of reality a real HSBC report says this about the HSBC techology center:
“HSBC GLT, INDIA, the development centre in PUNE is just hell to work over there. No processes of software development are followed over there and they have made people’s life over there miserable. People over there are working like donkeys and they are not providing even night meals or transport service in the night. From the last 3 days continuously, one of my friend is working in a project called DTP and has not even slept for 2 hours and didn’t have meals since 26 hours. This is ridiculous and I want to draw the attention of higher authorities to stop treating people like machines or donkeys.” (see this report)

His Highness Sheikh Mohammed Bin Rashid Al Maktoum needs to ask HSBC where it really stands on the issue. Are Indians less honorable than Arabs? While HSBC Finance practices predatory pyramiding in the U.S. is it overlooked in Dubai, or is it outlawed? We want answers to these issues and more. Meanwhile “…taken by HSBC for its believe in the importance of investing in the human capital” seems somewhat two faced.