Malaysia

‘Inhumane’ for profit-making HSBC M’sia to leave 600 jobless: union network

UNI-MLC says third retrenchment exercise in 6 years violates not just collective agreements with employees, but also country’s laws

Updated 4 years ago · Published on 30 Jun 2021 6:30PM

‘Inhumane’ for profit-making HSBC M’sia to leave 600 jobless: union network
There is no good reason for the Malaysian subsidiary of HSBC, a multinational financial institution that is recording profits, to shut 13 branches nationwide, says UNI-MLC. – AFP pic, June 30, 2021

KUALA LUMPUR – It is “inhumane” and “unfair” for HSBC Bank Malaysia Bhd to close 13 branches nationwide, leaving 600 people jobless, said the Union Network International Malaysia Labour Centre (UNI-MLC).

“UNI-MLC is of the view that this decision by HSBC is unfair. Firstly, HSBC is taking this action while the country is battling the impact of the Covid-19 pandemic, which is entering its second year,” said the organisation’s president Datuk Mohamed Shafie B.P. Mammal in a statement.

“This is inhumane.”

It is the third retrenchment exercise by HSBC Malaysia in six years, said UNI-MLC, adding that the decision violates not just collective agreements between employer and employees, but also national laws.

HSBC is a multinational financial institution that is recording profits, and so, it makes no sense for its Malaysian subsidiary to take such a drastic step, it said.

Instead of offering the voluntary separation scheme (VSS) and mutual separation scheme (MSS), the lender should train staff to improve their skills, said the group.

“Thus, UNI-MLC urges HSBC to retract its decision to offer VSS and MSS, and cease from closing branches in Malaysia.

“These steps will see further hassles faced by HSBC customers. UNI-MLC also understands that HSBC’s actions here have received the approval and consent of the government.”

It called on Bank Negara Malaysia, and the Finance and Human Resources Ministries to intervene and ensure multinational banks that log profits and use local labour do not retrench employees.

“UNI-MLC hopes the government, as the industry supervisor, will act swiftly so that no employers and multinational organisations take advantage of the pandemic and neglect their workers.” – The Vibes, June 30, 2021

Related News

Culture & Lifestyle / 2y

Family-owned resort beats the odds to ensure no staff was lost during lockdowns

Business / 2y

HSBC to evaluate initiatives, help debtors overcome financial challenges

Business / 3y

HSBC buys failed US bank SVB’s UK arm for £1 in rescue deal

Business / 3y

Ford to cut 1,100 jobs in Spain

Business / 3y

Google cuts 12,000 jobs as tech woes bite again

Business / 3y

M’sian economy to grow moderately by about 4% this year: HSBC

Spotlight

Malaysia

PM Anwar – ‘Rather a torn shirt, than …’ (video)

By Alfian Z.M. Tahir

Malaysia

After years of abandonment, Highland Towers to be demolished before year end

Malaysia

PH seat distribution finalised, PKR to contest 20 Johor PRN seats, 16 in Negeri

Malaysia

Rosmah Mansor denies viral allegations, lodges police report

Malaysia

Four arrested after maid abuse footage exposes alleged pattern of domestic worker mistreatment

Malaysia

Muhyiddin's 'congratulatory' message to Hamzah a fake

Malaysia

Hamzah Zainudin launches new political party, Parti Wawasan Negara

Malaysia

Disturbing video of alleged employers assaulting their helper goes viral (video)

You may be interested

Malaysia

Social media fuels youth vulnerability as it delivers 'information without wisdom’

Malaysia

Anwar leads tributes following death of Islamic economist Dr Muhammad Umer Chapra

Malaysia

Traffic offender detained after freight carrier crushes family vehicle on Karak highway

Malaysia

PH seat distribution finalised, PKR to contest 20 Johor PRN seats, 16 in Negeri

Malaysia

Women are pillars of national progress, community formation - PM Anwar

Malaysia

Four arrested after maid abuse footage exposes alleged pattern of domestic worker mistreatment

Malaysia

Lee’s resignation from PKR leadership questioned, labelled as betrayal of mandate

By Alfian Z.M. Tahir

Malaysia

Man suffers burns as late-night blaze destroys three homes in Kelantan village