HSBC ‘no retrenchments’ claim a lie, says union

Timothy Achariam

The National Union of Bank Employees says a HSBC Bank memo to employees states that those who do not sign up for VSS may be subjected to redeployment, relocation and redundancy. – EPA pic, November 22, 2019.

HSBC Bank is lying about there not being a retrenchment exercise following its decision to outsource functions to foreign and local vendors, said the National Union of Bank Employees (NUBE).

The union, in a statement, said HSBC is making the retrenchment move look like a voluntary separation scheme (VSS).

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