Special Report:Global Financial Crisis
HONG KONG, Feb. 10 (Chinese media) -- The Hong Kong Special Administrative Region
(HKSAR) government confirmed Tuesday to Chinese media that it had urged the HSBC to
clarify the reports that the bank was planning to lay off 1,000 employees in
Hong Kong.
A spokesperson with HKSAR's Labor and Welfare Bureau told Chinese media that it
had contacted the HSBC to gain a better understanding of the layoffs reports.
The bureau has urged HSBC to make a clarification to ease worries.
According to the bureau's understanding, the HSBC has no massive layoff plan at
the moment, a spokeswoman for the bureau said.
An HSBC spokesperson declined to make comments when asked to confirm the
reported layoffs on Monday.
John Tsang Chun-wah, Financial Secretary of the HKSAR, appealed on Monday
to companies not to lay off workers and to get through the difficult times with
their employees.
The Hong Kong Banking Employees Association said on Sunday that it had
received reports from HSBC's employees that the bank had planned on a layoff
that may involve as many as 1,000 employees, 5.6 percent of its total employees
in Hong Kong. Since last September, the HSBC had laid off about 550 employees in
Hong Kong.
HSBC: business in China not hit by
financial crisis
Davos, Switzerland, Jan. 30 (Chinese media) -- HSBC business in
China has not been hit by the financial crisis, said Stephen Green, chairman of
HSBC Group in an interview with Chinese media at the World Economic Forum on Friday.
He said that he was confident over the development
prospect of China's economy and was satisfied with the reform of China's capital
market. China's fiscal stimulus package will play an important role in pushing
Chinese economy forward. Full story
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