HSBC continues job exodus to Asia
(UK) HSBC is to move 4000 jobs from its UK operations to India, China and Malaysia in what is said to be the largest single shift of financial services jobs to Asia.
The call centre and processing jobs will be moved over a period of three years beginning with 1500 positions next year, another 2000 the following year, and 500 in 2006.
HSBC chief executive Bill Dalton said the decision to shift the jobs to Asia reflected the bank’s responsibility to its stakeholders to remain "efficient and competitive" and that it was "essential" to the bank’s long-term success.
The bank recently cut 1400 jobs from its UK head office citing high national insurance costs.
The move comes just weeks after HSBC said it intended relocating back office jobs from its Hong Kong operation to mainland China.
HSBC chief executive Bill Dalton said the decision to shift the jobs to Asia reflected the bank’s responsibility to its stakeholders to remain "efficient and competitive" and that it was "essential" to the bank’s long-term success.
The bank recently cut 1400 jobs from its UK head office citing high national insurance costs.
The move comes just weeks after HSBC said it intended relocating back office jobs from its Hong Kong operation to mainland China.
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