Anger over HSBC job cuts in Southampton (From Daily Echo)

Anger over HSBC job cuts in Southampton

7:20pm Wednesday 4th November 2009 in

By Gareth Lewis » Business Editor

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TWO hundred call centre workers who helped their bank make massive profits are today facing the axe.

HSBC in Southampton is to cull up to 228 of some of its lowest paid employees, many earning just £14,000 a year, it was revealed last night.

Unions reacted with fury to the decision attacking its timing just weeks after HSBC unveiled almost £3bn in profits for the first half of the year.

Staff told of their shock at the news the Southampton call centre in HSBC’s 14-storey Nelson’s Gate office is to close in June next year and how the announcement was met with tears.

At a stroke the decision reverses the tide of good employment news, which had seen 240 jobs created in Hampshire just last week. Electrical giant Best Buy and insurer Fortis created 100 positions each and bar chain Loungers a further 40.

In explanatory packs handed to staff at HSBC, bosses blamed the closure, which is expected to save £2.73m a year, on “tough and challenging times”.

HSBC employs more than 1,000 in its landmark offices and had recently praised the work of its call centre where up to 228 are now to go, as part of 1,700 job cuts nationwide.

One staff member, who did not want to be named, told how they heard the bleak news.

“Everyone was asked to go to a particular floor and then told the centre will be closing in June. Straightaway it went very quiet. No one had suspected at all,” he said. “To be honest, almost everyone was in tears. There were pregnant women there and other people just back from maternity.

Others had just bought houses and are now going to have difficulty paying the mortgage.

“It is an absolute shambles.

They have shown it is all about the money at the end of the day. This shouldn’t have happened given how successful our centre was compared with other sites. It’s a joke.

They are cutting jobs, but they are still paying bonuses.

How can they do that?”

Unite’s national officer Rob MacGregor said the union was “appalled”.

He added: “HSBC needs to urgently reconsider its strategy.

At a time of strong market performance by HSBC, they should not be cutting their most crucial asset, the staff that have contributed to £3bn half year profits and delivered market strength in a challenging financial climate.”

HSBC UK chief executive Paul Thurston said: “Decisions that affect our people are always difficult, but this restructure is an essential part of the streamlining of our business and the migration of activities into centres of excellence around the country.”

Comments(21)

Finlay says...
1:08pm Wed 4 Nov 09

"No one had suspected at all,” he said. “

Ten I suggest that you were either never there or that you are too stoopid to understand the statements made almost a year ago that Nelson Gate was being closed.

I personally had dealings with that building for it's conversion to alternative space. Several floors then were empty.

It was a fading call center as much of the work was being undertaken in Mumbai - A massive faux pas by HSBC but nonetheless still done.

Dont cry over job losses when first off you were not pointed at the door and escorted out - You were given adequate notice as of yesterday to find another job and also knew it was an imminent closure from a year ago.

If you're worth your salt you will find another job else tough no more paid sleeping from 9 to 5.

No story here