Hang Seng Bank (0011) said it will make adjustments from time to time, responding to a report that the local lender has started a widespread layoff in March.
A number of departments of Hang Seng Bank have been laying off staff since March, including the Logistics Support Department, the Strategy and Corporate Development Department, the Information Technology Department, the Corporate Communications Department and the Hang Seng Indexes Company, Sing Tao Daily reported, sister newspaper of The Standard.
The layoffs are expected to be completed by the end of June, according to the report, And the range of layoffs in the departments involved is about 10 percent to 20 percent, while some departments are cutting about half of their staff.
In response to enquiries, the bank said that in order to cope with the fast-changing market environment and the increasingly diversified needs of customers, the bank reviews its business portfolio and operations from time to time and will make appropriate adjustments, including optimizing or innovating new functions, restructuring its business and upgrading the skills of its staff, so as to better provide quality services to customers.
STAFF REPORTER
