Extra day holiday reward for HSBC workers

Business | 2 Dec 2019 11:15 am

HSBC Holdings is giving its Hong Kong employees an extra day off next year in a gesture of encouragement.

The move was announced in a memo to staff today by Diana Cesar, the bank’s local chief executive. “Thanks to your perseverance and dedication, HSBC has been able to sustain our operation and stand by our customers in these unprecedented circumstance,” Cesar said in the memo obtained by Bloomberg.

The memo was confirmed by Maggie Cheung, a bank spokeswoman.

It was earlier reported on by the Hong Kong Economic Times.

HSBC, which employs about 21,000 of people in the city, makes around 90 percent of its profit in Asia.

A separate report by Apple Daily today said that HSBC Hong Kong is planning to freeze salaries for its top executives next year amid pressure from trade tension and the protests.

The lender has completed compensation reviews for next year and submitted the plan to parent HSBC Holdings for approval, Apple Daily reported, citing an unidentified source.

Senior staff, including managers and chief executives will be face a salary freeze, while junior staff of band four to eight will have a “minimal” pay increase rise, Apple Daily said.

Cheung said the bank doesn’t comment on “rumors.” “As always, our reward decisions are based on employee performance and behavior, taking into account local market considerations,” she said.

 

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