HSBC headquarters building is located in Hong Kong’s financial district, Central.

HK HSBC headquarters building is located in Hong Kong’s financial district, Central.

Outsourced its printing and delivering services be to Fuji Xerox in coming Sept, HSBC Hong Kong lays off 80 staffs.

HSBC globally announced that the bank will cut up to 20,000 jobs globally last week Chief executive Stuart Gulliver is going to give details at an investor presentation on 9 June.

HK HSBC (0005.HK) drew first blood in the layoff for reducing cost, its report and mailing center in Tseung Kwan O and 80 workers are to be dismissed. As a result, Fuji Xerox will be awarded to offer the contract of document management services and the new contractor will hire 20 affected workers under the employment contract of the same payroll but with less benefits. Some of the staffs are dismissed by early retirement approach.

Since sensitive clients’ information such as financial statement will be processed by the bank’s contractor, the concern of clients’ privacy leakage after outsourcing the bank’s report and mailing center arise. HSBC must be responsible to protect clients’ privacy.

Only 20 workers, originally working for the HSBC data center at Tseung Kwan O, will be hired by a new contractor on the same salary, but with less benefits. The bank will outsource the service to Fuji Xerox, a document management consultancy, in September.

The services include printing and delivering customers’ monthly statements and securities trading records which carry information like personal details and financial situation. Some workers fear the risks of leaking sensitive information will rise if the information is passed to a contractor.

Last Monday, Sky News said the bank will cut up to 20,000 jobs. Chief executive Stuart Gulliver will give details at an investor presentation tomorrow.HSBC has sold or scrapped 77 business units since Gulliver took the helm.

Asia-Pacific chief executive Peter Wong Tung-shun said in March the bank was under no pressure to ax jobs in Hong Kong.

In 2011, about 3,000 Hong Kong employees were dismissed.

Source: The Standard Finance

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