KUALA LUMPUR – HSBC Bank Malaysia Bhd has brushed off claims that 600 workers will lose their jobs as a result of its move to restructure operations.
The bank insists that its offer of a separation package is on a voluntary basis.
“We are offering certain segments of our workforce a voluntary separation scheme (VSS) that they may choose to take advantage of should redeployment not be possible.
“We would like to reiterate that the scheme is voluntary, and will be applied only to employees who choose to accept it.”
The statement comes after the Union Network International Malaysia Labour Centre accused the lender of being “inhumane” and “unfair” in closing 13 branches across the country and leaving the said staff jobless.
HSBC said it is providing employees a VSS with comprehensive transitional support, including an “above-market” compensation package and reskilling programmes.
“Our first priority remains our people. We are deeply grateful to the workforce of HSBC Malaysia – all of whom are critical to the success of providing the Malaysian market with best-in-class financial services.”
On its downsizing exercise, the bank said Malaysia is a priority growth market, and that it is investing in new technology as part of its digital transformation.
“This transformation will improve our customers’ experience doing business with us, and will involve changes to our technology, branch footprint, and the roles that some of our people currently perform.
“It will also involve creating more than 200 new roles to adapt to the evolving banking landscape, and redeploying our people into these roles.” – The Vibes, July 1, 2021
